Latin America faces a second ‘lost decade’

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“This looks like a scene from the second world war, right here in the heart of Santiago.”

Felipe Alessandri, the mayor of one of Latin America’s most prosperous cities, was surveying the burnt-out wreckage of the 170-year-old church of Veracruz in the centre of Chile’s capital, destroyed in a blaze started during a general strike last Tuesday.

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