The economic interdependence between «developed» and «developing» nations is articulated in intricate financial webs. In regions where resource extraction and mining play pivotal roles, the appreciation of local currencies has far-reaching implications. 🧵 1/13

The rapid appreciation of the Mexican peso in 2023 against the US dollar has driven up the costs of production as well as compromised the competitive advantage of exports. For mining companies who plunder the Global South, the currency appreciation has serious financial results.