[dropcap1]T[/dropcap1]here are reasons to think that a structural road based on a shift to manufacturing will figure much less prominently in the future of Latin America. In addition to growth of China, Cambodia, Vietnam, manufacturing requires higher skills and capital intensity and is less likely to absorb labour (Rodrick 2013). Sustained growth is therefore more likely to depend on what happens at home rather than simply importing technology. The challenge is therefore to design an economic architecture that respects the domestic priorities of individual countries while ensuring that major cross-border spillovers and global public goods are addressed. This requires steady accumulation of skills and human capital, education, health, tax policy,…