Monday, December 19, 2005

Latin America's Long March Backwards

While the world's been fixated on Asia (East, West, and the sub-continent), anti-US Left is Looming Large in Latin America. (Link courtesy: Belmont Club)

This is likely the most fascinating geopolitical development in the new millennium. It implies that the neo-liberal consensus on free markets remains highly vulnerable to populist retrogression. If this political trend expands its geographic footprint (recall that the 1998 Asian currency crisis was linked to economic trouble in South America), we are all in for a world of hurt.

Looks like the US has, inadvertently, dropped the ball in its own backyard.

1 comment:

Rishi Gajria said...

Yup, the US has dropped the ball. With its own fiscal indiscipline and pandering to religious fundamentalists and general nutjobs, I dont think it is in a position to tell anybody anything. Leave aside a country in South America.

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