<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>2448-718X</journal-id>
<journal-title><![CDATA[El trimestre económico]]></journal-title>
<abbrev-journal-title><![CDATA[El trimestre econ]]></abbrev-journal-title>
<issn>2448-718X</issn>
<publisher>
<publisher-name><![CDATA[Fondo de Cultura Económica]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S2448-718X2025000100007</article-id>
<article-id pub-id-type="doi">10.20430/ete.v92i365.2682</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[América Latina y su &#8220;gatopardismo a la inversa&#8221;: para que todo pueda seguir igual, nada puede cambiar. ¿Trampa del ingreso medio o &#8220;trampa neoliberal&#8221;?]]></article-title>
<article-title xml:lang="en"><![CDATA[Latin America and its &#8220;reverse gatopardism&#8221;: For everything to remain the same, nothing can change. A middle-income or a neoliberal trap?]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Palma]]></surname>
<given-names><![CDATA[José Gabriel]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad de Cambridge  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>United Kingdom</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>03</month>
<year>2025</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>03</month>
<year>2025</year>
</pub-date>
<volume>92</volume>
<numero>365</numero>
<fpage>7</fpage>
<lpage>74</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S2448-718X2025000100007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S2448-718X2025000100007&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S2448-718X2025000100007&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Krugman identificó el enigma del bajo desempeño de América Latina como uno de los mayores desafíos de la teoría económica. Este trabajo indaga en dicho desafío analizando lo que llamamos su &#8220;trilogía de contrastes&#8221;: comparado con otras regiones, 1) la creación de empleo (especialmente servicios) en América Latina ocupa el primer lugar en el mundo; 2) pero el crecimiento de la productividad ocupa el último, y 3) como la participación en el ingreso de los más ricos sigue siendo de las más altas, mientras que la tasa de inversión llegó a ser la más baja, la brecha entre ambas pasó también a ser la mayor del mundo. La esencia de mi respuesta al desafío de Krugman es que dichos extremos son facetas de un mismo fenómeno: quedarse pegado en el &#8220;más de lo mismo&#8221;, cuando las estrategias productivas posteriores a 1980 se agotaban, pues ya habían dado lo que podían dar. Eso pasó tanto en el &#8220;extractivismo&#8221; del sur como en el ensamblaje manufacturero del norte. Lo que ahora se necesita es &#8220;revitalizarlas&#8221; con nuevos motores de crecimiento de la productividad, como comenzar a procesar materias primas y producir insumos para ello, y &#8220;anclar&#8221; el ensamblaje en la economía doméstica, además de un &#8220;nuevo pacto verde&#8221; y la difusión del nuevo paradigma tecnológico a toda la economía. Tratar de extender la vida útil de lo ya agotado es receta para caer en la trampa del ingreso medio; el &#8220;más de lo mismo&#8221; ya no es una opción válida de desarrollo. Pero las rigideces estructurales, las distorsiones del mercado (nacional e internacional) y la tradicional neofobia ideológica de la región (con miedo a lo nuevo) han bloqueado la &#8220;reingeniería&#8221; de lo ya agotado.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract Krugman identified the puzzle of Latin America&#8217;s underperformance as one of the greatest challenges of economic theory. This paper investigates this challenge by analysing what we call Latin America&#8217;s &#8220;trilogy of contrasts&#8221;: compared to other regions, 1) its job creation (especially services) ranks first in the world; 2) but its productivity growth ranks last; and 3) as the income share of the rich remains among the highest, while investment rates became the lowest, the gap between the two has also become the largest in the world. The essence of my response to Krugman&#8217;s challenge is that these extremes are facets of the same phenomenon: getting stuck in &#8220;more of the same&#8221; when both post-1980 productivity strategies became exhausted, as they had already delivered their productivity growth potentials. This happened in the &#8220;extractivism&#8221; of the South and the &#8220;manufacturing assembly platform&#8221; of the North. What is needed now is to revitalize them with new drivers of productivity growth, such as the transition to processing raw materials, and the &#8220;anchoring&#8221; of assembly operations in the domestic economy-plus a &#8220;green new deal&#8221; and the transfer of the new technological paradigm to the entire economy. Trying to extend the &#8220;shelf life&#8221; of what is already exhausted is a recipe for falling into the middle-income trap-&#8220;more of the same&#8221; in either productive strategy is no longer a valid development option. However, structural rigidities, market distortions (domestic and international), and the region&#8217;s perennial ideological neophobia have so far blocked the &#8220;reengineering&#8221; of what is exhausted.]]></p></abstract>
<kwd-group>
<kwd lng="en"><![CDATA[Extractivism]]></kwd>
<kwd lng="en"><![CDATA[assembly manufacturing]]></kwd>
<kwd lng="en"><![CDATA[Latin America]]></kwd>
<kwd lng="en"><![CDATA[productivity]]></kwd>
<kwd lng="en"><![CDATA[middle-income trap]]></kwd>
<kwd lng="es"><![CDATA[extractivismo]]></kwd>
<kwd lng="es"><![CDATA[ensamblaje manufacturero]]></kwd>
<kwd lng="es"><![CDATA[América Latina]]></kwd>
<kwd lng="es"><![CDATA[productividad]]></kwd>
<kwd lng="es"><![CDATA[trampa del ingreso medio]]></kwd>
</kwd-group>
</article-meta>
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