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| 2008/10/03 00:00

In Latin America, the most trenchant opponents of globalised finance look most likely to suffer at its hands

Oct 3 -- If analogies with the Great Depression are scary for Americans, they are hardly less so for Latin Americans. Within a few years of the 1929 stockmarket crash, 16 governments in the region fell to military coups or takeovers by strongmen.

In Latin America, the most trenchant opponents of globalised finance look most likely to suffer at its hands

In recent years the talk has mostly been of Latin America’s economic independence from its big neighbour in the north (with the exception of Mexico). But on September 29th, the day the House of Representatives in Washington balked at the bail-out, came a reminder of just how close those ties still are. While the Dow Jones dropped by nearly 7% in a day, Brazil’s Bovespa, the region’s biggest stockmarket, tumbled by more than 9%.

Go to The Economist to read the full analysis on Latin American economies.

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