What are Latin America economic systems most like?

Latin America's economic systems are often characterized by a mix of market-oriented and state-driven approaches. Many countries in the region have adopted neoliberal policies, emphasizing free trade and privatization, while also maintaining significant state involvement in key sectors, such as energy and Natural Resources. This duality leads to a diverse economic landscape, where informal economies coexist alongside formal markets. Additionally, issues like income inequality and reliance on commodity exports are common challenges faced by many Latin American economies.