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The conflict for the Falkland islands between Argentina and Britain, caused Argentina to refrain from exploiting the Argentina sea oil reserves, which potentially are as important or more than the Brazilian ones. Argentina feared that the sea oil would encourage Britain to retain the islands.
Nonetheless, after many decades, Britain started the exploitation of the oil around the Falklands, so there is no more a stake for Argentina to avoid the development of the, potentially important, off shore reserves. It, along with the Brazilian, and Venezuelan reserves, may made Latin America an important oil producer.
On other side, there is a growing resentment and division between Latin America and Europe/USA, in basis to the Falkland’s issue, worsened by the Lisbon Treaty, and the past behavior of USA, in particular, the training and supporting of genocides dictators in Latin America, the pressure on Chavez, and Morales, the recent mess about Honduras, and the military occupation of Colombia and Haiti.
Latin America feels despised, abused, ignored, and sided out of “The Western”.
Although Latin America has deep cultural and ethnical links to Europe, also have an important number of indigenous populations, with Pacific and Asiatic links. So Latin’s are much more friendly and receptive to China, and that was recently favoured by the increasing trade, which rescued the ostracized Argentina after the 2001 crisis, and the favorable view of china as international actor, which raises hopes as a friend to balance European and USA abuses of power in Latin America.
I live in Argentina, and here is speaking of starting the development of the off shore reserves, but blocking the participation of British, USA, and European companies, in favor of YPF (splitted from Repsol), Petrobras, and Chinese companies.
China is growing a very positive image in Latin America. At the same time, USA and Europe is getting worse day by day.
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