Despite all that, Lula's government has worked well as a model and revived confidence in a country that was in dire straits three years ago.
The state of the current account should help Brazil go through a year of elections with not major difficulties or restraints.
The United States, as a government, has been out of the business of financing infrastructure in Latin America for a long time.
It's going to end up costing Argentina a lot more money because they will have to seek other forms of financing that are more expensive.
Somebody like Chavez sees China as the counterpart to the U.S.. They see it as a way to diversify their sources of influence.
Inflation can't be controlled through price agreements or price controls. The only way to control it is with a stronger monetary policy.
