How Good Neighbors Can Become Partners

THE U.S. and Latin America should be a well-matched economic team. The U.S. needs Latin America's coffee, copper, zinc and other raw materials; Latin America needs the know-how, capital and consumer goods of the U.S. Latin America is already the second biggest foreign customer for U.S. goods (21% of all exports), while the U.S. is Latin America's No. 1 buyer (48% of its exports). Yet it is far from a happy business partnership. The reason is that the southern flow of U.S. capital is far below the level needed to raise the standard of living of...

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