At the WSJ,
South America Suffers From End of Commodities Boom.World Bank foresees second year of economic contraction in Latin America and the Caribbean
The economies of Latin America and the Caribbean will likely contract for a second consecutive year, dragged down by South American countries that rely heavily on commodities and are more exposed to the slowdown in China, the World Bank said Tuesday.
. . .
“South America’s exposure to commodities prices is unique in the world,” said Augusto de la Torre, World Bank chief economist for Latin America and the Caribbean. “Not even middle-income African countries have such a strong exposure.”
When nations do not see their people as their best resource for the creation of technology, opportunity and innovation, that’s what happens.
Related: Behind Latin America’s Woes Stands China.Global decline in commodity prices weighs on countries from Brazil to Peru