Updated 06:40 AM EST, Mon, Nov 29, 2021

Leftist Groups Lose Favor in South America Amid Worsening Economic Crisis

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Leftist groups in South America, after being on the advance for so long, is now in retreat amid economic problems in the continent.

An Associated Press report published by Fox News noted that most of the governments in South America have been run by leftists individuals and parties who started their leadership when China's economy soared.

It, however, claimed that with the current situation of the Asian superpower, the economic conditions gave plummeted "taking with them the aspirations of millions of families that rose into the middle class on the back of the economic boom."

Colombian Senator Antonio Navarro Wolff mentioned that all these situations remind the people that changes in politics indeed happen in South America.

"In the past decade it appeared to have stopped moving because the economic conditions were so favorable," he added.

With the issues in various South American countries like the election of President Mauricio Macri in Argentina and the impeachment proceedings versus Brazilian President Dilma Rousseff, economies in these areas remain unstable though change is expected soon.

The Associated Press claimed that the center-right has promised to shift its focus to fix the economies and strengthen monetary controls. These measures are expected to fight corruption in these areas.

Columbia University and expert Christopher Sabatini mentioned in the same report that the right seemed to have learned its lessons.

"While many people still believe the left, the economic crisis is so severe that more are more are willing to gamble on change," he claimed.

Washington Times earlier claimed that the political landscape of the continent has struggled for the past months to keep its power because of the discontent among the people.

Think tank Nueva Mayoria director Rosendo Fraga mentioned in the same report that this shift could mark an "inflection point" meaning a change from "center-left to the center-right."

Meanwhile, Buenos Aires Herald said that the shift in power began in Argentina and continued to its neighbors.

Former Argentina ambassador Marcos Azambuja said that this is not the end of a certain cycle in Latin America, instead a "waning of a group of governments tending towards populism associated with nationalism."

The recent election of Argentine President Macri promises a great start for the country after 12 years of economic uncertainty.

The Wall Street Journal said that Macri is off to a good start with him initially lifting currency controls and allowed the peso exchange rate to reach 13.3. It was also noted that this was a sharp drop, but the currency managed to recover fast.

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