Proponents of the North American Free Trade Agreement described the trade deal as a win-win for everyone.  Those in opposition argued that Mexico would be the only winner from the inflow of factories and jobs.  Both sides were wrong.  What was supposed to be a clear victory for Mexico turned out to be a nightmare with Mexican consumers abandoning local products in favor of American-made ones which sent the Mexican economy into a tailspin.  The real winner?  Arkansas based retailer and NAFTA proponent: Walmart.

In the 1980s, Japan was poised to become the next economic world leader.  Books were written about their work ethic, financial innovation, and management styles.  From luxury cars to VCRs, Japanese manufacturing was more efficient, more advanced, and frankly more profitable than American companies. For many economists, it was a near certainty that Japan would soon surpass the US as the largest economy in the world.  But something strange happened.  Japan’s hot economy suddenly turned south, their real estate market imploded, and their economic golden years crashed and burned.  Now it looks as though Japan’s best days might just be behind them.

In a surprise move, President Nixon announces an abrupt end of the convertibility of the US dollar into gold.  With the unbridled freedom to print money and spend, the country adopts a more-loose-than-usual monetary policy that inadvertently spurs inflation.  As the dollar weakens, concern mounts about the long-term viability of the dollar until Treasury Secretary William Simon and Secretary of State Henry Kissinger strike monumental deals with Saudi Arabia and OPEC to secure the dollar's status as the world's reserve currency.

https://www.bloomberg.com/news/features/2016-05-30/the-untold-story-behind-saudi-arabia-s-41-year-u-s-debt-secret

A fortunate discovery by a Mexican fisherman uncovers the largest oil reserve in Latin American history.  Spikes in oil prices shortly thereafter coupled with easy access to loans triggers a spike in borrowing throughout the region.  The euphoria would be short-lived.  Just as it appeared Latin America's day in the sun had finally arrived, interest rates spike, leading to massive problems and hardship.  Health standards plummet, the economy contracts, and the illegal drug industry booms as the regional economy implodes. Teetering on the brink of disaster, Latin American governments and American banks are faced with difficult decisions of how to rescue the failing region.