Currency Exchange

The Los Angeles Times has been running a fascinating series, "The New Foreign Aid," about the estimated one billion people who get some financial help from family and friends working abroad. Richard Boudreaux, Carol J. Williams, Richard C. Paddock and Tracy Wilkinson give us interesting examples from Mexico, Haiti, the Philippines and Kenya of how cash from abroad props up local economies and influences lives for both good and bad. I like how the Times uses its far-flung foreign correspondents in a cooperative effort to analyze this worldwide trend.
www.latimes.com/news/nationworld/world/la-fg-remit22apr22,0,4836197.story?track=tottext