The worsening global crisis has made it clear that the Latin American economy's power to contain turbulence is limited. UNASUL's central role has increased, but the stabilization fund has not been able to prevent the foreign influence on the finances and stagnation of the Banco do Sul. Its enormous currency reserves will end up bailing out European banks if their common currency's luck does not improve. The practice of extracting natural resources for export keeps the economy from following the Asian countries' example of developing manufacturing and also reinforces the predominance of transnational companies. Social welfare programs do not reduce inequality, nor do they change super-exploitation, while the narcotraffic lumpen proletariat increases the potential for social marginalization. Neo-liberal prestige has revived neo-developmentalist focuses, but the substitution of the old Argentine bourgeoisie by export groups has hindered projects for re-industrialization. Within this context, a third alternative truly representative of the people is being delineated.
Crisis; Transnational neoliberalism; Neodevelopmentalism; Latin America; Argentina