Latin America has often been condemned to failure. Neither poor enough to evoke Africa`s moral crusade, nor as explosively booming as India & China, it has largely been overlooked by the West. Yet this vast continent, home to half a billion people, the world`s largest reserves of arable l&, & 8.5 percent of global oil, is busily transforming its political & economic landscape. This book argues that rather than failing the test, Latin America`s efforts to build fairer & more prosperous societies make it one of the world`s most vigorous laboratories for capitalist democracy. In many countries, including Brazil, Chile & Mexico, democratic leaders are laying the foundations for faster economic growth & more inclusive politics, as well as tackling deep-rooted problems of poverty, inequality, & social injustice. They face a new challenge from Hugo Chavez`s oil-fueled populism, & much is at stake. Failure will increase the flow of drugs & illegal immigrants to the United States & Europe, jeopardize stability in a region rich in oil & other strategic commodities, & threaten some of the world`s most majestic natural environments. Drawing on Michael Reid`s many years of reporting from inside Latin America`s cities, presidential palaces, & shantytowns, the book provides a vivid, immediate, & informed account of a dynamic continent & its struggle to compete in a globalized world.