Explain why populist or leftist leaders are nationalizing resources and what has been the impact on the nation.

South American countries have been attempting to mirror the free market system of the United States since around 1980 (the "Washington Consensus"). This has lead to economic stagnation in these countries. In order to boost their own economies, they are now looking at the models of more productive nations whose economies are growing very rapidly and are attempting to mirror their market systems. The main countries being scrutinized are China and India, who have nationalized many of their industries/resources. This would explain the shift.