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alternatehistory.com
I'm admittedly quite ignorant on the topic of Latin American history, though I know a little bit about Brazil, Colombia and Mexico. I am broadly aware that the various cultural differences and the geography make a U.S.A. style union of Spanish colonies virtually impossible (even if we limit that to South America), and of course Brazil has its own thing going on.
I do not know how accurate this is, so forgive me, but I've seen it opined elsewhere that with enough "wanking" (tee-hee) you could end up with a Latin America consisting of...
Mexico
(Gran) Colombia
Peru
Argentina
Brazil
What say you, historiadores alternativos?
(Note: I am excluding the Caribbean because I am mostly interested in the continent)