On May 12, 2025, in an interview with Bloomberg, Colombian President Gustavo Petro announced that Colombia would join China's Belt and Road Initiative (BRI), becoming the twenty-first Latin American country to integrate the project. Is the Belt Road Initiative a driver of industrial development for Latin America?

In Latin America, the commodities boom refers to the rise of commodity prices (energy, agricultural products, minerals and fuels) that occurred at the beginning of the 21st century. The supercycle drove economic growth and prosperity in the region. The living standard improved significantly as a new middle class emerged.