I like to think of myself as a reasonably cynical person, at least in matters of finance. When I started reporting on Mexico's markets in 1998, Russia had just defaulted in billions of debt. Russia and Mexico had virtually no direct financial or trade relationship, yet large investors punished Mexico anyway. (To be fair, Mexico still hadn't recovered from its own financial meltdown of a few years before.) The peso plunged against the dollar, sparking something close to hyper inflation. I watched in awe as working people's real wages -- my own included, since I was paid in pesos -- …
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