South American dreadnought race
Early 20th century arms race among Argentina, Brazil, and Chile
A naval arms race between Argentina, Brazil, and Chile—the wealthiest and most powerful countries in South America—began in the early twentieth century when the Brazilian government ordered three dreadnoughts, formidable battleships whose capabilities far outstripped older vessels in the world's navies. In 1904, the Brazilian legislature allocated substantial funds to improve the country's naval forces. Proponents of this plan believed that they needed a strong navy to become an international power and counter recent expansions of the Argentine and Chilean navies.
From Wikipedia, under CC BY-SA. More on occurri.