Across Latin America, the sustained decline in global oil prices has had a profound impact on economic growth, political stability and the viability of resource nationalism – when governments assert more control over the nation’s natural resources.
At a breakfast meeting with members of the Inter-American Dialogue’s Energy and Resources Committee, Michael Reid, The Economist’s senior Latin America editor and author of the “Bello” column, discussed why he thinks the region is shifting to the right.
How much do the Western Hemisphere’s two largest economies and most populous countries, Brazil and the United States, redistribute through social spending and taxes? Although the United States has an income per capita four times as large as Brazil’s, the countries share similarities that make this comparison interesting.
