| Headline: Mexico reaps the rewards and pays the price of US ties Source: Euromoney Date: September 2001 Author: Robin Emmott Mexico has prospered through ever-closer links to the US, which has been the main market for its booming exports. Seven years on from its own crisis, Mexico now appears strong enough to shrug off any contagion from Argentina. The downside, though, is that Mexico will now suffer if the US economy goes into a deep and prolonged downturn. Faults in its economy may yet be revealed.
Against the mountain backdrop, elegant new skyscrapers glint in the sun. Gomez is beaming. He has just helped clinch Citigroup’s $12.5 billion takeover of Banamex-Accival, or Banacci, as it’s known. Concluded in May, this was the biggest corporate deal in Mexican history and the largest financial services acquisition in an emerging market. | |||||||||||||||||||||||||||||||||||||||||