Word: argentina
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...plenty of minefields ahead before agreement is reached on a Free Trade Area of the Americas (FTAA). In the wake of the U.S. economic slump, many of the hemisphere's vulnerabilities are more apparent than ever: wildly uneven income distribution in Latin America; a dramatic financial crisis in Argentina; rising levels of crime and pollution; deterioration of such institutions as public education and health in many nations. No agreement is possible without a meeting of the minds between Brazil and the U.S., and that did not seem probable on the eve of the Quebec City summit. Even if that...
...trade group that it leads, "which it can then use as the basis for negotiating in the FTAA." On the other hand, Brazil's desire to complete a free-trade area in South America before joining the FTAA has been weakened by economic turmoil in the region, especially in Argentina. Taken together, Fishlow said, "there's not going to be a real opportunity for any kind of significant advance" in Quebec City. But, he added, "I do not believe we will see a rejection in Latin American countries of the commitment to free trade...
...huge U.S. economy and the stock-market swoon that has destroyed more than $3 trillion in paper wealth. The full effects of the slowdown have not spread to Canada and Mexico, the U.S. partners in the North American Free Trade Agreement, but they are still evident. In South America, Argentina has been engulfed by a paralyzing financial crisis that threatens the cohesion and possibly the fate of the Southern Cone trading bloc known as Mercosur (which also includes Brazil, Paraguay and Uruguay...
Many South American unions are against the free-trade area. And Brazil, the biggest economy in Latin America, worries about its inefficient, state-protected industries. Brazil wants to assert itself as the Latin economic and political leader through Mercosur, its customs union with Argentina, Chile and other neighbors, and it will be the region's toughest negotiator...
...market has grown by an average of 9% a year for the last decade-and one can see why so many farmers seem buffeted by forces beyond their control. Farmers in Britain questioned why the government allows the import of any beef from countries such as Botswana, Brazil and Argentina, where foot-and-mouth is endemic. Says Patrick Holden, director of the Soil Association, an organic farming lobbying group: "The globalization of agriculture is presumed to be a good thing, treating food commodities like processed steel and shipping it around the globe. We don't want that anymore...