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This article proposes a comparative analysis of two Latin-American films of the mid-1990s, Terra estrangeira/Foreign Land (Salles and Thomas, 1995) and Profundo carmes/Deep Crimson (Ripstein, 1996) as a way to interrogate some of the conceptual and aesthetic underpinnings of the region's emerging globalized mode of film production. As transatlantic co-productions, these two films also emphasize border-crossing plots, thereby reflecting in their narratives the contexts of their production and providing a productive heuristic device through which to illuminate the evolution of Latin-American national cinemas.