Latin america's successful decade

In the past 20 years, the structural transformation of the global economy has allowed for the generation of new development opportunities for emerging countries. From the experiences of the decade of the 1990's, with mixed results, (positive in Chile and Peru, neutral in Mexico and Brazil, with large crisis in Argentina and, therefore, in Uruguay), Latin America was able to face a dramatic transformation of its terms of trade.

The growth in China, India, and Russia has led to substantial increases in the prices of their main export products: grains and derivatives, metals, and hydrocarbons. As a result of this significant improvement in their external environment, as well as more rational macroeconomic policies and more effective social policies, Latin American countries have enjoyed a "good decade", growing at rates that exceed historic rates, gradually improving the distribution of income.

The analysis "La Infraestructura en el Desarrollo Integral de América Latina. Fortalecer las capacidades logísticas y competir exitosamente en los mercados mundiales de servicios logísticos: imperativos y oportunidades para América Latina" (Infrastructure in the Comprehensive Development of Latin America. Strengthening Logistic Capacities and Successfully Competing in the Logistic Services World Market: Imperatives and Opportunities for Latin America) (CAF 2013), shows that the region has achieved, in several cases, the development of logistics services that are quite competitive in the global market.

In this scenario led by the BRICS, the countries of Latin America have managed to reach per capita income levels that allow some of the more advanced ones to envision the possibility of becoming developed nations in the next 20 to 30 years.