With Luiz Inacio "Lula" da Silva's narrow victory over president Jair Bolsonaro in Brazil—the two-time former president defeated the incumbent by a 1.8 percent margin (50.9 to 49.1)—the Latin American left has completed its strategic dominance over the region's seven largest countries.
In the 2000s, much was made of Latin America's so-called "Pink Tide," which began with Hugo Chávez's first electoral victory in Venezuela (1998) and da Silva's first term in Brazil (2002–2006). There followed an unprecedented rise of left-wing governments across the region. However, there were still important holdouts at the time; Mexico and Colombia didn't veer left at all; Chile maintained its post-Pinochet social democracy; Peru's original "Pink Tider," Ollanta Humala, initially scared the markets in 2011 but proved to be mostly moderate in power.
