RIO DE JANEIRO, BRAZIL - When a left-wing populist and a far-right lawmaker rose to power in Latin America’s two largest economies, investors thought they knew who was going to show them the money.
But more than two years and a costly pandemic later, disillusioned investors are now busy shifting from a Brazil that once promised compelling reforms and privatizations, into a Mexico expected to benefit from a U.S. economic rebound.
Investor worries that Mexican President Andrés Manuel López Obrador would overspend to appease the base that handed him a landslide victory in 2018 have . . .