Latin America Will Not Rise

choi

Latin America’s Korean dream; The case for a modern industrial policy. Economist, Sept 20, 2014.
www.economist.com/news/americas/ ... ericas-korean-dream

The first two paragraphs:

“ONCE again, Latin America has a growth problem. After a dozen golden years of economic expansion and falling poverty, the region is likely to grow by only around 1.5% this year. Argentina, Brazil and Venezuela are suffering recessions of varying severity. Even high-flyers like Peru and Chile have slowed to a crawl; growth in Mexico, where reforms promise much, has yet to take off.

“The immediate reasons are not hard to divine. The commodity boom has waned and, in some places, years of fiscal populism are coming home to roost. Low unemployment and a population that is starting to age mean that growth can no longer come from adding workers. If the region is to return to faster expansion, it must raise productivity.

My comment:
(a) Then there is a host problems common in third world.
(b) There is no need to read the rest.