Yes, Latin America is also seriously hit by global crisis and not only as a consequence of global companies been seriously damaged by the financial crisis, but as a consequence also of a big drop in global commerce.
Latin America has historically been a provider of basic goods and food and these products have also dropped their prices dramatically.
June has started with a more promising scenario for Latin countries. Increase in food prices as well as oil prices have been registered almost in every country and this fact is an engine of other industries in Latin countries.
As written in various posts, other industries have gained momentum in Latin America during the past decade. Because of its huge competitive advantages, Latin America's creative leaders have had a huge increase in their job requests during the last decade.
Latin America's advertising, PR, communications and media industries have leverage the opportunities that surge from US and Europe and have combined competitive costs and a unique approach to creative solutions.
Maybe because Latin America has historically lived and overcame crisis after crisis, Latinos have been raised with a positive outlook to difficulties and problematic situations which have made our way of overcoming crisis, a natural way of facing situations.