Relearning old lessons

WE HAVE long taken notice of Latin America. The leading article in The Economist’s very first issue, in 1843, called on Britain to slash tariffs on the import of Brazilian sugar and cotton. Our coverage of the Mexican Revolution of 1910-17 is cited by historians. More recently, in 1997, we recognised the progress of Latin America in establishing (or re-establishing) democracies and in overcoming hyperinflation and debt crises by creating a separate Americas section (in which we included Canada).

This week sees the start of a new column, which will give further depth to our coverage of Latin America. It is tribute to the region’s expanding weight in the world. Brazil and Mexico now count among the ten biggest economies by purchasing power. Latin America is of critical importance in energy (it has a fifth of the world’s oil reserves), food production and the environment (with half the surviving rainforest). Cuba excepted, democracy holds sway throughout the region, though it is under threat in some places. Thanks to faster growth, 60m Latin Americans have left poverty since 2002; income inequality, a perennial problem, has fallen.