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ettiquette in brazil

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... 22). Worse yet, over 50 percent of the deposits in Argentina are condoled by foreign banks ($67 million) and the peso has been devalued to 1.4 pesos to the American dollar (Anderson 22). This has created massive losses to American banks and other institutions. The nation has experienced bank runs by people afraid of losing their money and according to The Economist (March 2, 2002), the main basis for the economic decline in Argentina is the currency boardís fault. The currency board would not devalue it money in a growing economy, and then the prices of the nationís commodities stopped rising, Brazil devalued its money, and the nationís currency board would not adapt to these changes. Worse, yet the currency board printed bonds to pay the nationís debt and in the process it increased spending and when devaluation hit the economy was simply too weak to recover. However, if there is a real issue with the economy of Argentina is it the breakdown of the strong economic relationship between Brazil and Argentina and a shift in mutual dependence that has created a stagnant economy and a close to impossible situation for the nation to recover form.
Brazil and Argentina have maintained a long-term, trading ...

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