Latin America: A story of resilience

In a familiar pattern, the woes of the developed world have weighed heavily on emerging stockmarkets in recent months. Latin American markets have been hit particularly hard, falling twice as far as the MSCI World in the first nine months of this year. Certainly, a slowing US economy and the apparently incessant spiral of European debt crises do pose some risks to the economies of Latin America - most obviously, through weaker demand for the region's exports. And there are domestic problems too. In particular, the region's central banks must remain vigilant against the threat of inflatio...