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Mexica Peso

Why the hate?  

I gave my perspective on a currency.   The exchange rate is largely apolitical, there's a lot of stupidity around it, and its "strength" as a kind of macho positioning.  There is no doubt that when the Euro was adopted many European countries confused the rate they set with national strength, others were far more cunning.  Where the French, the Greeks, and Portugese entered to Euro at an unreasonably large premium, created instant wealth but destroyed their competitiveness inside of Europe.  While others (aka Germany) did the exact opposite. 

Personally I don't care about AMLO and his government.   However, the government's largest achievement has been to reverse education reform to get the support from teachers, cut public health budget so that hospital can no longer purchase medicine and Reversing the policy of fighting narcos.   He played the austerity game while spending billions on vanity projects (airport, train and refinery).   Mexico's success over the past six year has everything to do with America's on shoring and nothing to do with Mexican government policyies, and supporting "national champions"  like PEMEX and CFE  in a revival of a 1960 view of the world.  Mexico has won despite itself.

I simply don't care but the trends are evident for anyone to see.   Mexico's strong currency has little to do with Mexican policy but external factor over which it exerts little control.  

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