Resource extraction continues to be a major source of revenue for both developing countries and wealthier nations alike. But the windfalls don’t come without risks. Meanwhile, the environmental impact of fossil fuels is driving the development of renewable energy sources. But the transition is slow to develop.
Over the past two decades, China became an increasingly powerful player in Latin America, displacing the U.S. as a top trading partner and strengthening its political influence in the region. But now, China’s growth has suddenly slowed, creating significant economic risks for Latin America—and opportunities for the United States.