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To: Ahda who wrote (130)4/22/1999 8:59:00 PM
From: ahhaha  Read Replies (1) | Respond to of 587
 
Summers hasn't said anything.

Argentina has made a mistake.

Right strategy for any nation is to allow their currency to freely float against all others. When this is done an economy becomes disciplined by all others. Such an economy obtains the status of the lowest common divisor. Therefore, it can can only prosper.

The dollarization of any currency doesn't mean much because the dollar is the de facto world currency. How does a wagon benefit from a fifth wheel?

What happens to Argentina when the dollar starts down against the euro and yen? The fifth wheel increases the chance that Argentina will get stuck in a ditch.