This article critically examines the contemporary effects of globalization and neoliberalism in Latin America. It analyzes the context, nature, and effects of these two global forces in relation to the prevailing economic, political, and social conditions in the region at the beginning of the new millennium. This is followed by an examination of the extent of popular resistance to the neoliberal regimes that presently rule in the region, and the prospects for replacing the current neoliberal pattern of development in Latin America.