The Argentine economy still coming under threat

The economic crisis in Argen- tina has had a muted effect on other Latin American markets but the threat of a contagion effect remains, according to First State Investment's fund manager Alan Nesbit. 'The future for Argentina is unclear because dollarisation, a strong labour movement and the limited manufacturing base all put it in a poor position to respond to a global upturn,' he says. 'Argentina is not much of a manufacturer and what it does export are dollarised commodities such as agricultural products, oil and gas. It will not sell more of these because of devaluation.' ...