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It would never happen, these countries would never be like China/Japan/India, specially because a sense of nationalism don't exist or is very weak in Latin America, mainly because of multiculturalism.
I don't think think it is necessarly a bad thing though, because colectivist societies are oppressive to freedom.
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The problem of Latin America is the corruption
my president AMLOVE is removing the corruption !!
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Mexico has the largest lithium reserve in the world, the wealth of the future
Mexico must be administered well !!
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See what I wrote earlier. It is all well and good having these natural resources, but ultimately Latin American countries won't fully develop until they use them to make high-quality products of their own, rather than importing them from Europe, North America and Asia. (Often with their own raw materials originally used!)
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India is much poorer and less developed than Japan and even China. It is laughable to lump them all together like that. The ethnic, linguistic and in particular religious divisions within India are rather deeper than anything that exists within most Latin American countries.
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Most of those development you see on paper in East Asia are only localized less profit operations (compared to developed) using the cheap labour to create capital and the capital invested in the local economy in the form of infrastructure & loans to country where there is market. Whereas in the past, India has deep rooted differences in religion and ethnic lines which didn't allow to do those operations on large scale due to terrorist activity/religious violence. That's why the global labor market both high-tech & laborers are dominated by Indians. However nowadays things are moving in the direction high vol/low profit operations slowly due to more education.
Whereas Latin America is also like India in the sense since atleast big percent of countries are dependent upon the labor market but the high volume manufacturing doesn't exist.
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