Waack: Latin America lacks a wave of growth, not color

Depending on the result of the next elections, Brazil would complete what Javier Milei and Flávio Bolsonaro, side by side, called the blue wave. It's the wave of right-wing presidents across Latin America, where it is said that a pink wave has already passed - that of left-wing governments.

After waves of military regimes, followed by waves of redemocratization. Washington consensus wave. Wave against the Washington consensus... The most lasting of these waves seems to be that of populism, in the most diverse colors.

Unfortunately, there is a wave that has not yet reached this part of the world, but has passed through others, such as Southeast Asia. It's the wave of investment, education and increased productivity.

While Latin America rode the wave of the commodities boom, the aforementioned Asians created waves of technological progress and became major industrial centers too - and I'm not talking about China.

For around 40 years, Latin America has been experiencing stagnation in productivity and stagnation in GDP growth - in relation to what was achieved on the other side of the world. They have had robust expansion rates for decades.

We became known for chicken flights and the expansion of the famous fourth sector - that of transnational organized crime, thinking that by changing the color of the wave, things will be resolved.

Source: CNN