LATIN-AMERICA

For most of modern history, the path to prosperity required following a predictable sequence: build factories, develop heavy industry, export manufactures, accumulate capital, invest in education, move up the value chain. The "East Asian miracle" countries followed this script with spectacular success. Latin America tried and largely failed, stumbling over political instability, weak institutions, and premature deindustrialization. But something has changed. The old playbook no longer applies. Technology—particularly mobile technology, artificial intelligence, and digital platforms—is creating entirely new development pathways.