Socialismo, No! Capitalismo, Si!

They're cutting red tape, freeing markets, opening the economy to foreign investment, tearing down trade barriers, and selling off government-owned companies. Eastern Europe and the Soviet Union after the collapse of communism? Nope. Latin America. From Mexico to Argentina, nations with some 400 million people are abandoning the heavy-handed statist economies that kept them, in many cases, poorer than the Russians. They are replacing them with market-driven systems that they hope will make them as rich as the Taiwanese and Koreans. The capitalist rebirth taking place--right in the Western hemisphere but out of the U.S. media spotlight--may turn out to be as vital to America's economic and political well-being as the demise of communism.

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