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their own common market (cacm) a decade ago. Two years have passed since the hemispheric conference, held at Punta del Este, Uruguay, and attended by all Latin American heads of state and the then President of the United States, Lyndon B. Johnson, committed itself to setting up, by 1985, a Latin American common market through the gradual convergence of lafta and cacm. Little has been heard lately about the Punta del Este project and the news from Latin America reaching the outside world strongly suggests that not only lafta but also cacm, the most successful economic integration experiment in the southern hemisphere, face considerable difficulties.
Miguel S. Wionczek (Mon,) studied this question.