"Love thy neighbor" is not an easy commandment to live by for Argentina. Brazil's abrupt devaluation a year ago rendered Argentine products comparatively more expensive both at home and abroad. Worse, the cost of doing business became far cheaper in Brazil than in Argentina, spurring some two dozen companies to jump the border. The effect was to drag Argentina into a deep recession that it still hasn't shaken. Meanwhile, the Brazilian economy is set to rebound nicely in 2000. Thank you, Brasilia.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Goldman Sachs Sees Four 2018 Fed Rate Hikes as U.S. Growth Gains
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Honda Recalls 800,000 Odyssey Minivans Linked to Injuries
- Why Are Critics Calling the $450 Million Painting Fake?