The Inter-American Development Bank declared last July that this would be “Latin America’s Decade.” A couple of months later, The Economist endorsed that idea, which has since been repeated by countless apologists and experts. There is nothing like a little economic growth to get pundits’ juices flowing. And Latin America is growing, by 6% last year and an estimated 4.75% in 2011, according to the International Monetary Fund. Compared with the region’s mostly sluggish performance over the last three decades, this looks like takeoff velocity.
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