There are three areas of particular interest in evaluating
prospects for the region in 2015. The first is a question of
institutions and governance. The insertion of the hemisphere
into a global network of trade and investment opportunities is
the second. And the third, and certainly the most problematic,
will be the region's relationship with the United States.
Good government pays off. With Chile and Brazil as examples, tomorrow's hope is that the rest of the region will embrace responsible policies.
The common wisdom is that Latin America is institutionally
underdeveloped. Problems of governance and governability are
apparent in many countries. Parties are weak and fragmented; in
some countries they have almost disappeared. Checks and
balances exist on paper but rarely function in practice in many
cases. Countries are mired in poverty and show little
improvement in income distribution or social injustice. But
there are broad differences across the region that are often
overlooked and positive trends that need to be highlighted.
The next 10 years will see a sharp...
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