Outside of the Middle East, South America may be one of the most hostile places to U.S. policies, despite Bush vows upon taking office that Latin America was a top-foreign policy priority. Many in the region feel Washington meddled too much in the past in economics and politics and then ignored the region to focus on the war on terror.
While the emerging markets of Asia roared ahead in the last 20 years, Latin America’s economies, rich with minerals, gas and farmland, fell into a cycle of boom and bust.
Nowhere is that more evident than in summit host country Argentina, the model student in free-market policies that collapsed in 2001 under a burden of $100 billion in debt and saw a chunk of its middle class plunge toward poverty. (Source: Reuters)
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