Title: Pink tide - Wikipedia
Headings: Pink tide
Pink tide
Contents
Background
History
Rise of the left: 1990s and 2000s
Commodities boom and growth
End of commodity boom and decline: 2010s
Economy and social development
Political outcome
Resurgence
Term
Reception
Head of the states and governments
Presidents
Timeline
See also
References

Content: Commodities boom and growth
Further information: 2000s commodities boom
With the difficulties facing emerging markets across the world at the time, Latin Americans turned away from liberal economics and elected leftist leaders who had recently turned toward more democratic processes. The popularity of such leftist governments relied upon by their ability to use the 2000s commodities boom to initiate populist policies, such as those used by the Bolivarian government in Venezuela. According to Daniel Lansberg, this resulted in "high public expectations in regard to continuing economic growth, subsidies, and social services". With China becoming a more industrialized nation at the same time and requiring resources for its growing economy, it took advantage of the strained relations with the United States and partnered with the leftist governments in Latin America. South America in particular initially saw a drop in inequality and a growth in its economy as a result of Chinese commodity trade. As the prices of commodities lowered into the 2010s, coupled with overspending with little savings by pink tide governments, policies became unsustainable and supporters became disenchanted, eventually leading to the rejection of leftist governments. Analysts state that such unsustainable policies were more apparent in Argentina, Brazil, Ecuador and Venezuela, who received Chinese funds without any oversight. As a result, some scholars have stated that the pink tide's rise and fall was "a byproduct of the commodity cycle's acceleration and decadence". Some pink tide governments, such as Bolivia, Ecuador, and Venezuela, allegedly ignored international sanctions against Iran, allowing the Iranian government access to funds bypassing sanctions as well as resources such as uranium for the Iranian nuclear program.