Hemispheric trade zone stumbles

But whether such smaller agreements can serve as precursors to a broader hemispheric agreement, or if they actually hurt those chances, is under debate. Some observers urge caution when looking to these pacts as harbingers for successful broader accords.

"Yes, [the US-Chile accord] seems to be working - but let's wait two or three years to say anything definite," says Peter Hakim, president of the Inter-American Dialogue in Washington. "After 10 years of NAFTA and a host of reputable studies, debates are still furious about whether and how much the accord benefited Mexico," he continues, noting that rising commodity prices this year - especially copper - may have had a lot to do with the growth of the Chilean economy.

Stuart Harbinson of the World Trade Organization is pessimistic about the smaller deals. "This expanding web of [regional trading arrangements] raises the question of workability of parallel multilateral approaches," Mr. Harbinson told reporters, adding that there are today 150 regional trade agreements in force and another 70 in the works, all which vary widely, despite efforts to adopt "best practices." Such a multitude of pacts tend to raise production costs because businesses have to comply with a variety of rules. The WTO, with strong US backing, is pushing to sign all countries up for the Doha round - the latest phase of trade liberalization conducted on a global level.

Beyond the tactics of how to open markets both fairly and evenly, the arguments over the benefits of free trade continue. In downtown Santiago, just blocks from malls full of Starbucks and TGI Friday's, the streets were crowded over the weekend with thousands of antiglobalization protesters railing against the destruction of local jobs and culture by the corporate forces driving the free-trade agenda.

And just outside of the Chilean capital, the national sport was being played in cheerful defiance of the creep of a homogenized global culture. At the Puro Caballo rodeo, men in colored ponchos and wide-brimmed hats competed in a sport that dates back to the early 19th century. The idea is for two-man horseback teams to maneuver a bull around the ring and slam it against the padded side.

Alberto Romero has just placed second in the first round and is sitting on a haystack, pointing out the nuances of the sport to his 11-year-old son. During the week, this cowboy is the buttoned-up CEO of a company that sells luggage and baseball caps. He has a concession from Austria, imports the cloth from Asia, manufactures in Chile, exports to Argentina, and is currently evaluating entry into the US market.

He is pleased with the bilateral agreements Chile has and makes use of them. "I'm a global businessman," he says, flinging a short white jacket around his shoulders. "Would a FTAA make life easier?" Probably, he says, but just thinking of getting those negotiations done "gives me the kind of headache I bet that rodeo bull has right now."

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