Hi Adriana, Thank you for this review. I believe you are correct that Latin America and the Carribean (LAC) have, for far too long, allowed the rest the world to do its strategy, assuming credit for improved democracy and structural adjustments when China invested and traded in the region and being surprised and pointing to global winds when they didn't. One thing that we may add to your analysis is the poor firm-level strategy in the region. Many firms compete on the most easily-imitated advantages a firm can have: low wages, government favors and sub-soil assets. This approach makes them highly sensitive to the Chinese roller coaster ride. Your institution, one of the best and most efficient the world, was a pioneer in this approach, call it "the microeconomic foundations of competitiveness". Thank you again, Mike