All three countries are looking to China for support: Venezuela and Ecuador have signed investment agreements, and Argentina has a currency-swap line aimed at reducing its need for dollars.
"Poor investment returns in 2008 and unusually large swap liabilities, " Moody's said in February, "have combined to reduce the unrestricted net assets" of universities and hospitals around the nation.
One classic ploy is the Section 1031 exchange, in which you swap one piece of investment property, like an apartment building, for another and roll over your gain.