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Article: Argentina; It struggles with home-grown crisis.(NEWS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- January 8, 2002
CopyrightCOPYRIGHT 2002 Star Tribune Co. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Most Americans were focused elsewhere as Argentina slid into political and economic crisis this fall. Even as the country tries to regain its footing with its fifth president in two weeks, many Americans may wonder why the country's problems are worth their bother. There are several reasons.
The first is contagion. Recall the 1997 economic meltdown in Thailand and how it spread across Asia, enveloped Russia and slowed the entire world economy. Because the Argentine crisis was so long in developing, a firewall of sorts has been built around the country that makes contagion less likely. Still, vigilance remains necessary, as Spain now is discovering.
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