A Beleaguered Hemisphere

Hailed as a shining example of the merits of free trade and democratic reforms in the early 1990s, Latin America has become burdened by a series of economic downturns and tumultuous political conditions. Addressing its concerns in isolation does not seem like a viable option. With events in other world regions demanding attention from the United States, the problems of its southern neighbor have been all but avoided. However, with the promise of a hemispheric free trade area on the line, the Bush administration seems ready to reestablish its support. Politically, Bush hopes to forge stronger ties with his regional counterpart, Brazil’s Luiz Inácio Lula da Silva. On an economic level, he is paying closer attention to overturning the damaged reputation of Washington’s strict economic prescriptions for burgeoning Latin American democracies. – YaleGlobal