.hscoffield: Goodbye journalism, and thanks for everything you taught me via torontostar
It was January 2002, and I found myself in Buenos Aires writing about yet another global financial crisis that had spilled out of capital markets and raged its way into politics and everyday life.
And of course they were! The instinct to survive is well documented, but the instinct to thrive is almost just as entrenched. The Asian financial crisis of the late 1990s and the ripple effects felt later in Argentina showed us that contagion is just not rational. One country’s pitfalls don’t necessarily mean another country can’t handle similar challenges, and traders and investors can look at each regime individually before passing judgment and pulling out their money wholesale.
If Canada managed to scrape through that crisis with minimal damage, we know it was because of our more moderate approach to regulation and our inherent conservatism when it comes to managing the economy — traits that hold us back sometimes but came through for us then.
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