Colombian President Gustavo Petro.

Last week, Colombian President Gustavo Petro threatened to call for a constitutional convention, reopened peace talks with a notorious criminal group and canceled a cease-fire with a dissident FARC faction. Announcements like these would normally create months’ worth of media coverage. Under Petro, they have become almost uneventful.

Special forces military police during a police operation in Rio de Janeiro, Brazil.

The suspension of a Brazilian judge last month as part of an investigation into his links with an organized crime group did not make headlines. But it is a worrying sign of the ever-growing influence of the country’s main drug-trafficking organizations, which have steadily accumulated wealth and power in recent years.

chile's boric shakes hand with fellow pink tide winner gustavo petro of colombia

It may not be a return of the “Pink Tide,” but the region’s left has been showing signs of a revival. Perhaps more than questions of right and left, though, what most characterizes South America today is a sense of instability and democratic fragility. What’s next for the continent?

Ecuadorian President Daniel Noboa.

A standoff between Ecuador and Russia over a proposed arms transfer to Ukraine last month foreshadows how global competition among great powers may play out in Latin America moving forward. If the region doesn’t learn from the episode, it will find itself vulnerable to much larger forms of economic coercion over the coming decade.