Word: pesos
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...Only a year ago, Latin America was still reeling from the effects of the 1994 Mexican-peso collapse. Now virtually all its major economies are riding a wave of free-market bullishness...
...millionaire publisher instead advocated reduced government interference in financial relief efforts. For example, he said the recent catastrophic devaluation of the Mexican peso would not have happened without the interference...
...first is America's already immense and growing commercial involvement in the world beyond its borders. Americans spend more than 10 billion minutes a year on international phone calls. Travel abroad is exploding. About 20% of the U.S. economy now depends on international trade. The Mexican peso's collapse has sullied NAFTA, and makes it harder for Washington to argue the instant benefits of free trade. But the trend toward international economic interdependence is inexorable, and those who participate--some 10 million Americans owe their jobs to exports--are a natural constituency for more robust U.S. leadership...
...PESO DIVES...
Another industry insider speculated that investments in the Far East and those affected by the Mexican peso devaluation performed poorly and brought down the overall gains...