Latin American economies are become stronger thanks to increased free trade, along the lines of the EU. This stronger unity has been termed by Venezuelan President Hugo Chavez as "Bolivarism", after Simon Boliver, the liberator of South America.
Although many countries aren't particularly aligned with Chavez' brand of Bolivarism, there is no question that these countries are emerging from a heavy economic reliance on the U.S. and the World Bank into economic interdepence on each other. Many, such as Brazil and Chile, are becoming economic powerhouses in their own right. Others, such as Venezuela, Ecuador, Argentina and Bolivia, are still relying on each other for strength.
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