Kuala Lampur, Jan. 8 -- For much of the last half-century, Latin America served as the ideological theatre of the Global South. It was where revolutions were romanticised, socialism tested at scale, and anti-American defiance worn as a badge of honour. From Fidel Castro's fatigues to Hugo Chavez's televised sermons, the region exported a particular moral narrative: that history bent leftward, and that resistance to market capitalism was both virtuous and inevitable.

That era is ending - quietly, decisively, and with consequences that reach far beyond the Americas.

What is unfolding across Latin America today is not a routine electoral swing or a cyclical correction. It is a structural realignment driven by voter exhaustion, insecurity, ...