THE HEMISPHERE: Dance of the Billions

Latin America was at the crossroads. The 20 republics to the south, and their 134 million citizens, had emerged from the second world war as partners on the side that won it. Debtors, most of them for decades, they suddenly found themselves too rich for comfort, with some $4 billion in credits on the exchanges of the world. What they would do with it, what they could do with it, would shape the pattern of hemisphere life.

With their $4 billion the 20 republics wanted to buy economic independence. They talked economic nationalism....

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