Apples to oranges comparison. The problem set is completely different regarding your doom example of South America.
How? the problem is the same: a need for rapid industrial development to grow the economy. The solutions are the same: government picks winners, which is how an upstart like OpenAI can be paired with a dinosaur like Oracle. The latter's CEO of course being a long time friend of Trump.
> the problem is the same: a need for rapid industrial development to grow the economy
This is first-mover industrial development being funded by private actors looking out for a return on their investments. South America saw nothing similar--it was duplicating others' industrialisation with state capital (often borrowed from overseas) while spending massively on handouts.