Argentina, Chile and Uruguay have far more in common with the US and western Europe than with Eastern Europe, Africa and Asia.
Thanks to colonization first and massive inmigration from Europe second, There is not much difference culturally between these 3 countries and what is usually considered the west.
Even politically the similarities abound, after all the Argentina constitution was based on the US constitution (some would say it's almost like a carbon copy of it
). Each of the 3 countries is free and democratic as far as i know. I would also add Brazil.
It obviously depends on the definition one has of "The West". I always considered Latin America to be a part of the west geographically, culturally and politically.
Now if we are talking about economics i would make a division between 1st and 3rd world not between West, East or whatever.