Buenos Aires is located on a large estuary of Rio de la Plata. This shallow bay created by Rio de la Plata and a lot of tributaries is navigable to Buenos Aires, so long as they keep it dredged. Rio de la Plata means River of the Silver, it was so named because it was believed that it lead to South America's fabulous silver mines.
Buenos Aires has a very pleasant Mediterranean climate that is similar to that of Los Angeles, California. In fact the latitude of the city in the Southern Hemisphere is the counter part of that of Los Angeles in the Northern Hemisphere. To the south, the climate is arid in the southeast, and subantarctic in the southwest.
Argentina is the second-largest country in South America (after Brazil); strategic location relative to sea lanes between the South Atlantic and the South Pacific Oceans (Strait of Magellan, Beagle Channel, Drake Passage); Cerro Aconcagua is South America's tallest mountain, while the Valdes Peninsula is the lowest point on the continent .
Ninety-seven percent of the people are white (mostly Spanish and Italian), and mestizo, Amerindian, or other nonwhite groups make up the other 3% of the population. Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. However, when President Carlos MENEM took office in 1989, the country had piled up huge external debts, inflation had reached 200% per month, and output was plummeting. They have recently had several changes in governmental leadership recently. They are trying to get control of their economy to improve the economic outlook in the future.
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