Power of business

The Revival of Neoliberalism and the Power of Capital in Latin America

The pink tide in Latin America, which saw a slew of left leaders elected throughout the region during the first decade of the century, has pretty much come to an end.

Right wing presidents have been elected in Chile (2010 and 2017) and Argentina (2015). In Brazil, the political right gained executive power with the impeachment of left president Dilma Rousseff. This development was followed by the election of right populist, Jair Bolsonaro, as president in 2018. While a left president was recently re-elected in Ecuador, policies are becoming increasingly business friendly. The main outlier is Mexico, which recently elected left President Andrés Manuel López Obrador (AMLO). That government is already facing rising business opposition.