Is Latin America finally moving up the global high-tech value chain? Some remarkable numbers suggest the region is making progress. A few highlights from a fascinating new @AmerQuarterly piece in collaboration with JP Morgan Private Bank: • 🇲🇽 Mexico briefly overtook Taiwan as the largest supplier of advanced technology products to the U.S. in 2025. In the first half of 2026, its high-tech exports to the U.S. surged another 47% to $98.3 billion. The U.S. now gets 40% of its server imports from Mexico. • 🇧🇷 Brazil is emerging as a major hub for AI infrastructure. Already home to 218 data centers, the world's 11th-largest total, Brazil could see its capacity more than double by 2030. Its abundant renewable energy is a major competitive advantage. • 🇨🇷 Costa Rica offers a compelling model for moving beyond commodity exports. Medical devices already account for roughly 40% of its exports, and the country is now building a semiconductor industry through partnerships among universities, government and multinational companies. • 🇩🇴 The Dominican Republic is another country to watch. Its electronics exports grew 50% from 2018 to 2023, and its extensive free trade zone network could help it become a significant player in semiconductor assembly and testing. • 🌎 The bigger picture: Latin America's exports of information and communications technology services nearly DOUBLED from 2020 to 2024. The region has a real opportunity to capture more of the global AI boom—but sustained gains will depend on education, R&D, energy infrastructure and smart public policy. More from Nur Cristiani and Rich Brown in @AmerQuarterly: americasquarterly.org/articl…

The bizarre parallels, yet again. Brazil’s 2026 election, while not over yet, is looking so much like U.S. in 2024. The triumphant return of the “Tropical Trumps,” prevailing over an 80-something president who lost his touch (as if Biden never dropped out), as pocketbook issues, scandals and street crime led the electorate to cast aside the sins of the prior term — COVID response, scandals and January 8th (6th). Just like the U.S., a massive conservative wave election in Congress and governor’s races that — barring a surprise Lula comeback in 2nd round — will allow the Bolsonaros not just to return, but return more powerful than before, empowered to pursue agenda and exact revenge upon enemies including the so-called Deep State. The Brazilian variant may bring impeachment of Supreme Court judges and a purge of federal bureaucracy. Two countries, 5,000 miles apart, with so many important differences. On parallel tracks for a decade now, with Brazil consistently 2 years behind. Why? That’s a separate post.