Why is Latin America ahead of other regions of the developing world in terms of socio-economic development?

A feature of this region is that, first of all, it is very rich in minerals, which makes it possible to actively develop the economy at the expense of the mining industry of the economy. In addition, Latin America became the place where a large number of migrants flocked, which provided a large number of specialists and labor. The acquisition of independence by many countries of South America also allowed them to leave the category of countries of raw materials appendages.