Latin America’s left-wing experiment is a warning to the world
The region has some of the most left-leaning politicians on the planet. And they are scaring off investors
Over the past year or so a majority of Latin Americans have gone into a polling booth and put their mark next to the candidates who most represent change. As a result, left-wing presidents have come to power in Brazil, Chile and Colombia. They join a swathe of established left-wingers in Argentina, Bolivia, Mexico and Peru, and the autocratic left in Cuba, Nicaragua and Venezuela. Across Latin America, 12 of 19 countries are now run by left-wing governments. They represent 92% of the region’s people and 90% of its GDP. This group is a diverse bunch. And yet they all promise big results. Can they deliver? As the world moves towards more state intervention, Latin America’s experiment offers several cautionary lessons.
This article appeared in the The Americas section of the print edition under the headline “A warning to the world”
From the May 20th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from The Americas
Can Brazil’s left survive without Luiz Inácio Lula da Silva?
Brazil’s current president, a titan of the Latin American left, has no apparent heirs
Donald Trump is targeting Mexico like no other country
The United States’ southern neighbour is bracing for a wave of deportees and trapped migrants
The race to lead Canada’s Liberal Party hinges on handling Trump
Mark Carney and Chrystia Freeland are the front-runners
Canada has adopted assisted dying faster than anywhere on Earth
The province of Quebec now allows those with deteriorating illnesses to request an assisted death in advance
Tether’s move to El Salvador is a win for President Nayib Bukele
Why the stablecoin firm has picked the Central American country for its headquarters
From Greenland to Panama and Mexico, leaders are in shock
As Donald Trump eyes fine new pieces of real estate in the Americas and beyond