In 1977 the Brazilian weekly “Manchete” published an article entitled “Os argentinos brigan, os brasileiros compran”. (“the Argentines fight, the Brazilians shop") –referring to the flow of Brazilian tourists coming to shop in Buenos Aires when the peso was low due to political volatility, which usually triggered a rise in the dollar and other currencies relative to the argentinian peso. (The photo above is a picture of Brazilian tourists at a hotel in Buenos Aires from the above mentioned magazine article.)
Look at the consequences:
Argentina's GDP in 1976 was 180% that of Brazil and in 2009 it was 90%. China and the US are today like Argentina and Brazil were in 1976.
American Gross Domestic Product (GDP) in 2009 was nearly $15 trillion, while China’s was $5 trillion. By 2017 many economists consider it a virtual certainty that China's GDP will surpass the U.S. and by 2030 it will be more than double that of the U.S. In the last 20 years Argentina's economy has been stagnant - high unemployment, no growth, flat wages. Brazil's economy has flourished. Argentina has persued a low tax, weak peso economic policy while Brazil persued a higher tax, higher growth, strong currency policy.