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Show The Post-Nafta Mexican Peso Crisis: Bailout or Aid? Isolationism or Globalization? Brett M. Humphrey Blum has suggested "...the 1994-95 crash [in Mexico] would have been much worse and the recovery slower without NAFTA" (1999). Thus, due to the strong movement towards isolationism, if the United States is to enjoy a new millenium and another 50 years of economic success it must learn to succeed in a globalized economy and not fight it. The world is looking to the United States to lead it into the new millenium. Will the United States become the first peaceful hegemonic power in history or will it retract its sphere of influence in the name of sovereignty, putting at risk 50 years of economic success? The United States must look beyond re-election politics and understand its role in the world. It must lead the world into an economically and politically prosperous 21st century and a new millenium. SOURCE* Organisation for Economic Co-Operation and Development References Bendesky, Leon. 1997. "Mexico: From Euphoria to Sacrifice." In Joining Together, Standing Apart: National Identities after NAFTA. Ed. Dorinda G. Dallmeyer. The Hague, Netherlands: Kluwer Law International: 63-71. Bennet, James. 1994- "U.S. Business Gets Mexican Shock." New York Times, 23 December, Dl. Blum, Roberto. 1999. "Mexico Gets Down to Busisness about Growth." Los Angers Times, 1 November. Carrington, T, and Jackie Calmes. 1995. "U.S. Rescue Plan for Mexico Prompts Conditions from Both Liberals, Conservatives in Congress." Wall Street Journal, 19 January, A18. Clinton, William Jefferson. 1995. "Letter to Congress." Microfiche Yl.1/7:104-44. Congressional Record. 1995a. "Requesting the President to Submit Information to the House of Representatives concerning the Mexican Currency Crisis." 1 March. <http://thomas.loc.gov/bss/dl04query.html> (April 9, 1999). Congressional Record. 1995b. "Emergency Supplemental Appropriations." 30 March. http://rs9.loc.gOv/cgibin/l04:./temp/-rl044e5ag2:el5279> (April 9, 1999). DeLong, Bradford, Christopher DeLong, and Sherman Robinson. 1996. "The Case for Mexico's Rescue: The Package Looks Even Better Now." Foreign Affairs, May/Iune. DePalma, Anthony. 1994- "Peso Freed, Mexico Confronts Investor Worries." New York Times, 23 December, Al. DePalma, Anthony. 1995. "Aid Doubts Strain Mexican Markets: Delay in Washington Raises Fears." New York Times, 21 January, A20. Eaton, Leslie. 1994-"Mexico Devalues the Peso, Dealing a Blow to Stocks." New York Times, 21 December, Dl. Golden, Tim. 1994a. "Boom Shows Its Dark Side." New York Times, 23 December, Al. Golden, Tim. 1994b. "Mexican Currency Resumes Its Fall; Officials Silent." New York Times, 28 December, Al. Lustig, Nora. 1998. Mexico: Remaking of an Economy, 2nd Edition. Washington, DC: Brookings Institution Press. Organisation for Economic Co-Operation and Development. 1996. Trade Liberalisation Politics in Mexico. Paris. Pastor, Manuel Jr. 1998. "Pesos, Policies, and Predictions." In The Post-NAFTA Political Economy. Ed. Carol Wise. University Park: The Pennsylvania State University Press. Roett, Riordan. 1996. The Mexican Peso Crisis. Boulder, Colorado: Lynne Rienner Publishers, Inc. Roett, Riordan. 1999. Professor of Political Science and Director of the Latin American Studies Program, Johns Hopkins University. Email correspondence to author, <rroett@mail.jhuwash.jhu.edu> April 20. Sanger, David E. 1995a. "Mexico's Rescue Package: The Implications; a Darker Side for U.S. in the Solution." New York Times, 4 January, D4- Sanger, David E. 1995b. "Reopening Old Battles: Trade Pact Opponents See New Opportunity." New York Times, 20 January, Al. Sweeney, John P. 1995. Oral testimony before the U.S. House Committee on International Relations, February 1. Sweeney, John P. 1999. Political Analyst, the Heritage Foundation. Email correspondence to author, April 14- Uchitelle, Louis. 1994- "U.S. Losses in Mexico Assessed: Peso's Fall May Cost Americans Billions." New York Times, 26 December, Dl. Woods, Ngaire. 1998. "International Financial Institutions and the Mexican Crisis." In The Post-NAFTA Political Economy. Ed. Carol Wise. University Park: The Pennsylvania State University Press. 40 |
