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Latin America Lags Behind; Even if the region grows 4 percent this year, it's still heading for another 'lost decade.' Only this time, the inevitable popular revolt is targeting democracies.(Cover Story)

Newsweek International

| July 05, 2004 | Johnson, Scott; Margolis, Mac | COPYRIGHT 2004 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Scott Johnson, With Mac Margolis in Rio de Janeiro

Early one Sunday morning last month, the residents of Jiutepec, Mexico, were rocked from their slumber by the ongoing siege against capitalist democracy in Latin America. Bombs exploded simultaneously at three large, foreign-controlled banks in the small city. A fourth was later discovered in the local offices of HSBC, Europe's largest bank. The next day a left-wing revolutionary group claimed responsibility and issued a warning to President Vicente Fox. "Our commander detonated four explosives in banks with foreign capital," it read. "Fox has tried to turn the nation into a private business."

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