tinydancer
Diamond Member
At the time the treaty was negotiated it was dependent on the currencies maintaining the same relative values with respect to each other.If you look back at it all it seemed like a grand idea at the time. THEN reality hit. NAFTA sold both our countries down the tubes to Mexico. It was unreal. I still to this day don't understand why the US and Canada signed on to this shit.
But as soon as it went into affect, Mexico slashed the value of the peso from about 4 pesos to a US dollar to over seven per dollar, and it has been steadily devalued since then to the 18 pesos per dollar of today.
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Perot predicted this would happen if the US government did not enforce currency manipulation provisions in the NAFTA treaty.
Guess what?
We got fucked.