This is about as blatant as copies get. But real question is, doesn't the word hacker in the name mean conversations that mostly transcend geographies. So, what's the need for this?
I've seen regional versions of online communities, notably Barrapunto ( http://barrapunto.com/ ) as a Spanish-language version of Slashdot.
I think that there's value in creating regional communities of like-minded people.
I'd definitely like a Latin American startup-centric Hacker News equivalent.
There are several problems that are region-specific - for example I don't have to worry about VCs or IPOs or American tax rules, but I do have to worry about my country's restrictive employment policies, and other stuff that means the best answers for people in the USA are not necessarily applicable here.