The following article is from Venezuela Analysis:
October 30th 2008, by James Petras
Latin America is entering a period of profound economic recession, financial crises, collapsing stock market quotations, prices, deep devaluation of its currencies, growing unemployment, declining revenues and the prospect of a prolonged socio-economic recession. The economic breakdown, which is still unfolding, affects the entire political spectrum, extending from the far-right Uribe regime in Colombia to the social-liberal Chilean and Brazilian governments of Bachelet and Lula da Silva to the ‘center-left’ regimes of Evo Morales in Bolivia and Rafael Correa in Ecuador and even to the leftist government of Hugo Chavez.
It is not surprising to see that rightist regimes , embracing neo-liberal doctrines and deeply enmeshed in free trade agreements with the US, following its path to economic collapse. The deepening crisis has affected, with equal or greater force, the so-called ‘center-left’ regimes of Brazil, Ecuador, Argentina, Bolivia and Nicaragua.
The uniformity of the collapse of Latin American economies raises important questions about the changes and claims of independence, decoupling and post-liberal models, which many regime leaders, ideologues and progressive US-European Latin American writers made over the past several years.