November 1, 2009

Weapons Sales Spread Mistrust in Americas

Juan Tamayo, Miami Herald

AP Photo

Brazil says it must protect its newfound oil and gas riches. Venezuela says the U.S. military might attack it. Colombia is worried by Venezuela, Ecuador is watching Colombia and Paraguay is keeping an eye on Bolivia.

There's no question that weapons sales around the region are soaring. They almost doubled in just five years, from $24 billion in 2003 to $47 billion last year, according to one report by Colombian analyst Javier Loaiza. Others put the 2008 total at $60 billion.

U.S. government officials are monitoring the deals with a level of concern but avoid the term ``arms race.'' One said he preferred to call it a ``coincidental modernization of existing stocks'' to reflect the absence so far of widespread tit-for-tat arms purchases.

``They're buying big-ticket...

Read Full Article ››

TAGGED: Bolivia, Paraguay, Ecuador, Colombia, Venezuela, Brazil, Latin America


May 13, 2012
Dismal Economics of Resource Nationalism
Fabio Fiallo, The Commentator
Resource nationalism is condemned to join other 'progressive' economic recipes in the dustbin of history. Sadly, for Latin America, many of its people will find out the hard way. more ››
May 18, 2012
The Rise of Latin America
Jaime Daremblum, PJ Media
Over the past month, Latin America has seen two high-profile nationalizations of Spanish-owned companies. In Argentina, Cristina Kirchner announced the expropriation of a majority stake in her country’s biggest oil firm, YPF.... more ››
May 11, 2012
Brazil Is Making an Example of Chevron
Barrett & Millard, BusinessWeek
Chevron got caught up in Brazilian political crosscurrents having little in particular to do with the U.S. company but revealing much about the delicate state of Brazil's burgeoning oil industry. more ››
May 11, 2012
The Iranian Threat in the Western Hemisphere
Washington Institute
Undertanding the Iranian threat to the U.S. in the Western Hemisphere. more ››