Three years ago I wrote an article arguing that the political changes sweeping across Latin America were epoch-making and probably irreversible, and that they would fundamentally alter the relationship between the region and the United States. Some of the most important economic causes of the region's shift to the left – including the unprecedented long-term growth failure since 1980 – were unrecognised then and remain mostly unacknowledged to this day.
At the time, Washington's stated strategy was to isolate Venezuela from its neighbours. This was before the election of additional left governments in Ecuador, Honduras, Nicaragua, Guatemala, Paraguay and El Salvador. I argued that this strategy was based on a fundamental misunderstanding of what was happening in the region, and that it would only succeed in isolating the United States from its southern neighbours.
All this has come to pass, but more interestingly, for the first time we have an acknowledgement of this failure from the US secretary of state, Hillary Clinton. At a press conference last Friday, she said in response to a question about Venezuela:
http://www.guardian.co.uk/commentisfree/cifamerica/2009/may/05/obama-clinton-latin-america