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SI.com - Soccer - World Soccer: Why Copa America still matters - Tuesday July 6, 2004 7:16PM Overshadowed by World Cup qualifying, Copa America still matters Posted: Tuesday July 6, 2004 7:16PM; Updated: Tuesday July 6, 2004 7:16PM Let's start with a disclaimer: The Copa America is not, and has not been for some time, an equivalent of the European Championship. That role is carried out by South America's World Cup qualification campaign, where the teams meet at full strength in front of packed crowds.