Washington (CNN) -- It used to be said that if the American economy sneezed, Latin America and the Caribbean would catch a cold. Not so anymore. Despite the great recession of 2008, the region has kept growing and avoided, largely unscathed, the troubles that still ail the United States. The 20 nations that informally make up Latin America boast a booming economy with a combined GDP of more than $6 trillion, according to 2010 estimates by the International Monetary Fund. Latin America and the Caribbean, with a population of over 591 million people in 2011, are a potent market in a region where the U.S. already has free trade agreements with Mexico, Chile, Peru, Colombia and Panama.
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Latin America has a booming economy with more than $6 trillion in GDP
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Deadly drug war in Mexico and Colombia, tensions in Venezuela make region a concern
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Several GOP presidential candidates have weighed in on the volatile region
He may not get the same applause in @placeholder, however, for an idea -- shared by his some of his rivals -- to eliminate much of U.S. foreign aid to the region, which worldwide accounts for less than 1% of the federal budget.