Bello∣The great deceleration

摘要

It was great while it lasted. In a golden period from 2003 to 2010 Latin America's economies grew at an annual average rate of close to 5%, wages rose and unemployment fell, more than 50m people were lifted out of poverty and the middle class swelled to more than a third of the population. But now the growth spurt is over. What some worried would be a "new normal" of expansion of 3% a year is turning out to be far worse.