Paper Summary:

This paper discusses how that, although South America has immense natural resources and very diverse eco-systems, nearly one-third of the people live in poverty and how the region has to battle economically and socially to overcome this. It examines how South America's economic barometer is not only shaped by the United States, but by the policies and fiscal decisions of both Brazil and Argentina. It evaluates the economy and trade history both Brazil and Argentina individually, their relationship with MERCUSOR, the South American Common Market and the challenges facing both countries today in achieving some form of financial stability.

From the Paper:

"The United States is deeply involved in the economics of every corner of the globe and influences each region to a different degree. Although our southern neighbors share our hemisphere and many of our concerns, South America seemingly receives less attention than the markets of Europe and Asian. Henry Kissinger, a former Secretary of State and National Security Advisor to the President, once said "South America is a dagger pointed at the heart of Antarctica." Despite this rather frivolous comment by Kissenger, the fact is Latin America, encompassing Central America, The Caribbean, and South America is very important to the United States. For example, Mexico is our largest trading partner next to Canada. We will also trade more with Chili than India and send more to Argentina, Uruguay, and Paraguay than China."

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