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Political leaders from Argentina and Bolivia are shown signing the peace treaty in Buenos Aires that brought an end to the Chaco War between Bolivia and Paraguay. More than 100,000 lives were lost during the Chaco War (1932-35), fought over a disputed territory called the Gran Chaco -- a desolate, semi-arid desert that contains the navigable Paraguay River. The river is a particularly strategic boon to South America's only landlocked nations, where oil was discovered in 1928. Paraguay received by far the largest share of the disputed territory, though the concessions to Bolivia included a corridor to the Paraguay River. Though not directly involved in the fighting, Argentina was a signatory to the peace treaty because of its status as a regional power. Other nations present at the Chaco Peace Conference were Brazil, Chile, Perú, Uruguay, and the United States.
Hulton|Archive by Getty Images
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