James Petras: U.S. Venezuelan Relations - Imperialism and Revolution
Historically Latin America has been of great importance to the United States on numerous counts: the region has in the past, provided the US with a trade surplus; its outflows of licit and ill-begotten funds to US banks, numbers annually in the tens of billions; the US has been, up to recently, the major trading partner in the region; Latin America has provided a lucrative outlet for US buyouts of oil, telecoms, banking and related strategic mining companies during the golden age of imperial pillage (1975 – 1999). Throughout most of the 20th century the US could rely on the vote of its client regimes in the United Nations (UN), the Organization of American States (OAS) and in the international financial institution (IMF, WB, IDB) to back its efforts to sustain its global political and economic expansion.
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Palash Biswas
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