Latin America’s economies have an opportunity to grow

RUA 25 DE MARçO in São Paulo is the biggest shopping area in Latin America. Before the pandemic, an average of 400,000 people a day went there looking for makeup, electronics, household items and more. Most of the goods were imported from Asia. Despite an easing of pandemic restrictions and increasing vaccination rates, the crowds have not returned. Around a fifth of shops have closed permanently. Edmilson Lucas, who runs a shop there, says it is hard to obtain supplies, with the value of the Brazilian real down by a fifth since the start of the pandemic, to $0.18. It is even harder to sell his goods, considering that 14% of the population is unemployed. “I don’t know how much longer I can keep the doors open,” he says.