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During the final 2012 presidential debate, which focused on U.S. foreign policy, the only mention of Latin America came from Governor Romney, who issued a familiar call for expanding hemispheric trade. That was it. Viewers could be forgiven for assuming that, in the famous words of Richard Nixon, “Latin America doesn’t matter.”

Except that it does matter, both economically and strategically, and its importance to the United States will only grow in the years ahead. Which leads to the question: What exactly does it mean for a U.S. president to show genuine leadership in Latin America?