Henry Revises History.

"THE AXIS OF HISTORY STARTS IN MOSCOW, GOES TO BONN, crosses over to Washington and then goes to Tokyo. What happens in the south is of no importance," said Henry Kissinger, dismissing Latin America as unimportant in the 1970s. Three decades later the former U.S. secretary of state has had a change of heart.

Kissinger is teaming with Brazilian soccer legend Pele and the Inter-American Development Bank to promote investment in soccer in Latin America. "Years ago, it would have been unthinkable to have a meeting of this type' Pele said at a joint news conference to announce the initiative.

Brazil and the rest of the region are professionals when it comes to playing the sport but commercial development is comparatively amateurish. On average throughout Latin America, sports represent less than 1% of the region's gross domestic product. (In developed countries, sports account for 4% of GDP.)

Apparently sports are the "new axis" of Henry's revised history in the region. Besides the soccer effort, he and former Clinton Administration aide Thomas McLarty are advising U.S. multinationals seeking international investment opportunities. McLarty a former special aide for the Americas, already has found his: he owns Brasil Autogrupo, a holding company that controls car dealerships throughout Brazil.