Latin America has often been condemned to failure. Neither poor enough to evoke Africa�s moral crusade, nor as explosively booming as India and 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 land, and 8.5 percent of global oil, is busily transforming its political and economic landscape.

This book argues that rather than failing the test, Latin America�s efforts to build fairer and more prosperous societies make it one of the world�s most vigorous laboratories for capitalist democracy. In many countries�including Brazil, Chile and Mexico�democratic leaders are laying the foundations for faster economic growth and more inclusive politics, as well as tackling deep-rooted problems of poverty, inequality, and social injustice. They face a new challenge from Hugo Chávez�s oil-fuelled populism, and much is at stake. Failure will increase the flow of drugs and illegal immigrants to the United States and Europe, jeopardize stability in a region rich in oil and other strategic commodities, and 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, and shantytowns, the book provides a vivid, immediate, and informed account of a dynamic continent and its struggle to compete in a globalized world.