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Economic slowdown puts Latin America’s aspirations at risk

Shopping Recife, a shopping centre in Brazil’s sweltering northeast, is one of the more obvious signs of how much Latin America has changed over the past decade – and how much it has remained the same.

With more than 450 shops, 10 cinema screens and 19 restaurants, its air-conditioned atriums were filled with shoppers on a recent weekday, some maxing out their credit cards, others resisting the multiple card offers being thrust upon them.

“It is so easy to get a credit card nowadays,” exclaims Patrícia Ribeiro, a 39-year-old teacher. “But three cards are enough for me. I still need to pay my rent.”

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