In 1990, Latin America’s average GDP per capita was a little over a quarter of the United States’ income level, while emerging and developing Asian countries’ GDP per capita was only 5 percent. In 2019, Asian countries had grown fourfold, but Latin America was still at the same level, economists Bas B. Bakker, Manuk Ghazanchyan, Alex Ho, and Vibha Nanda write in IMF Western Hemisphere Department’s blog.

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