Mercosur
Mercosur or Mercosul istrading zone among Brazil, Argentina, UruguayParaguay. Its purpose ispromote free trademovementgoodspeoples, skillsmoney, between these countries. Chileinprocessjoining, after resolving minor territorial disputesArgentina. Other South American nationsseekingjoin.
Many South Americans see Mercosur asuseful bulwark againstencroachment ofUnited States inregion, either inform ofFree Trade Area ofAmericas (FTAA) (a continent-wide successor toNorth American Free Trade Agreement) or informbilateral treaties, such as that currently being negotiatedChile. But Mercosur was signficantly weakened bycollapse ofArgentine economy2002,indeed some critics believerefusal ofBush administrationbail out Argentina was based on its desireundermine Mercosur, whichsaw asthreatits divide-and-conquer strategymaintaining its dominanceeconomiesLatin America.
Mercosur - The name comes fromSpanish words Mercado (market)Sur (south).
Mercosul - The name comes fromPortuguese words Mercado (market)Sul (south).
