In elections last year, voters in both Brazil and Mexico opted overwhelmingly for populist candidates. To be sure, Latin American populism takes many shapes. In Mexico, Andres Manuel Lopez Obrador’s version (AMLO) promised significantly higher spending on social programmes and infrastructure. Brazil’s new President, Jair Bolsonaro, has pledged assertive efforts to clamp down on crime and boost security. While they may not share the same visions of prosperity or the means by which they are attained, the two leaders do share challenges, writes Brian Mullaney, Strategist, Global MacroViews.