Latin America has become more important for the US. Washington is therefore adapting its policy. This process will continue – regardless of whether Biden or Trump wins.

A muted recovery of capital flows to the region, moderate growth prospects and continued pressure on local currencies are expected for 2021.

2021 should become the key year for Latin America. After that, it should be clearer whether the region is threatened with another lost decade like the previous one.

The OECD has just noted that among the world’s largest economies, Brazil is the country with the most signs of expansion in August – after China.

It seems that Latin America is being bypassed in the reorganisation of global value chains and at the same time is moving further away from Europe.

More and more states in Latin America are returning to normality. Financial investors appear to be banking on an economic recovery.

Governments allow openings in trade and services. In the short term, growth rates will improve, but the recovery will be slower due to the need for new closures.

The loss of soft power will cost Brazil, and thus all of South America, dearly. It will take decades to make up for this loss of confidence.

The continent could remain in recession longer and more severely than the rest of the global economy. But there are also rays of hope.

AMLO uses the Corona crisis to restructure the economy: State-owned corporations are expected to dominate the economy.