Assessing Latin America as a monolith is a terrible mistake. Besides being extremely diverse in cultural, social, and even political terms, the region’s economic aggregates often hide significant country differences. Average results are pulled mainly by a handful of economies which perform as outliers in a region filled with smaller markets. As we decided to compare how the Brazilian economy performed compared to its neighbors, we focused our attention on the region’s main players, that is: Mexico, Colombia, Chile, and Argentina.
The history of Latin American economy is a tale of many ups and downs, an inconsistent struggle for development which has also caused many political shifts—and, in many cases, troubles.