Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina's 2001-2002 economic crash and debt default. Garcia's wait-and-see attitude is typical of other businesses who anticipate a slowdown in sales in a country grappling with a surging inflation rate but are convinced any economic downturn will be moderate. While unsettling, the debt crisis today is a far cry from the turmoil of Argentina's $100 billion default in 2002, and Garcia is optimistic things will ultimately improve. Argentina's record default sent shockwaves through global capital markets and millions of Argentines lost their jobs as the economy collapsed.
via Business News http://ift.tt/1rVUVXM
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