Latin America has grown used to living in the backyard of the United States. For decades, it has been a region where the U.S. government meddled in local politics, fought communists, and promoted its business interests. Even if the rest of the world wasn’t paying attention to Latin America, the United States occasionally was. Then came September 11, and even the United States seemed to tune out. Naturally, the world’s attention centered almost exclusively on terrorism, the wars in Afghanistan, Iraq, and Lebanon, and on the nuclear ambitions of North Korea and Iran. Latin America became Atlantis—the lost continent. Almost overnight, it disappeared from the maps of investors, generals, diplomats, and journalists.

Indeed, as one commentator recently quipped, Latin America can’t compete on the world stage in any aspect, even as a threat. Unlike anti-Americans elsewhere, Latin Americans are not willing to die for the sake of their geopolitical hatreds. Latin America is a nuclear-weapons free zone. Its only weapon of mass destruction is cocaine. In contrast to emerging markets like India and China, Latin America is a minor economic player whose global significance is declining. Sure, a few countries export oil and gas, but only Venezuela is in the top league of the world’s energy market.