Latin America's market: the recent economic chaos in Argentina and the ongoing guerrilla war in Colombia illustrate that Latin America remains a problematic area of the world. Despite all this, it still has tremendous economic potential and conditions should improve if the global economy starts to grow.

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Latin America's market: the recent economic chaos in Argentina and the ongoing guerrilla war in Colombia illustrate that Latin America remains a problematic area of the world. Despite all this, it still has tremendous economic potential and conditions should improve if the global economy starts to grow.

Latin American states are still important defence markets and there are a number of current and future acquisition programmes worthy of consideration.

Chile presents an interesting study in how Latin American countries must balance a number of factors as they seek to modernize their military forces. New equipment acquisition is financed by an allocation of money from Codelco, the state-owned copper company. This arrangement was introduced in the 1950s, but it was in the Pinochet period (1973 to 1990) that it was given a legal framework, under which the military gets ten per cent of Codelco's exp...

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