Among developing countries Latin America is the only region which goes through the whole process of economic globalizationthree modernization strategies liberalismeconomic nationalism and new liberalism. Among developing countries, it is the earliest independent and developed region in which economic groupization level is highest around the world. In present process of economic globalizationit is the unique region to start the combination of north and south economy. It is also a bigTesting site of modernization strategy of developing countries from which the article carefully selects 5 typical countries to do specific research to discover practical experiences and lessons of Latin America modernization strategy. Under new international situation. Among these countries in Latin AmericaChile is the country to carry out earliestly new liberalism developing strategy after the war; Argentina is the typical country to carry out export guide liberalism developing strategy after the debt crisis was broken out; Mexico is the typical country to carry out import substitutive industrialization strategy after the war; Brazil is the typical country to carry out earliestly mixing developing import and export strategy after the war and Cuba is the country to go socialist modernization road after the victory of revolution.
