Why was Latin American late to industrialize?

Latin America was late to industrialize due to a combination of factors, including colonial legacies, political instability, and economic dependence on agriculture and raw material exports. The region's economies were often structured around exporting primary commodities, which discouraged the development of diverse industrial sectors. Additionally, frequent political upheaval and weak institutions hindered long-term planning and investment in industrial infrastructure. Furthermore, external factors, such as foreign intervention and global market fluctuations, also played a significant role in stalling industrial growth.