Part one of term paper
On December 20, 1994, in an attempt to make Mexican products more competitive, Mexican President, Ernesto Zedillo Ponce de Len, devalued the Mexican Peso. Unfortunately, attempts at keeping the Peso to only a fifteen percent devaluation failed. The Peso dropped almost forty percent (Roberts, 1). It went from 3.5 to almost 7.5 peso's to the ...

Part two of term paper
... $49.5 billion aid package ($20B U.S., $17.5B International Monetary Fund, $10B BIS, $1B Consortium of Latin American countries, $1B Canada) to Mexico (Department of State Dispatch, 78). This move could make globalization a friend or a foe in Mexico's case. Friend, because it opens opportunities for foreign countries and companies to further expand their economies and influence. Foe, because one country's economic problems is the world's economic headache. Unfortunately, it seems that t ...