I’m in Buenos Aires on vacation, the second time in 8 years, and the country is quite different this time around. The economy, while not fantastic in 2005, is even worse today. The Argentine peso has been devalued again, and the President has decreed, among other things, that foreign companies cannot repatriate their Argentine earnings to their own country. All money made here must stay here. Apparently, the thinking is that will force companies to invest here. In reality, companies are reducing their current investments here and are not making many new ones. While Brazil is the darling of Latin America, and Mexico is gaining some splendor, Argentina is going the way of Venezuela and they are comparing President Fernandez de Kirchner to Hugo Chavez.
Things really have changed!