Asuncion's options in trade relationships are constrained by geography.
PABLO PORCIUNCULA/AFP/Getty Images
Paraguayan President-elect Horacio Cartes in Asuncion on April 21
By mid-century, South America will experience the demographic challenges that Europe and Northeast Asia currently face.
The presence of Brazilian migrants in neighboring countries factors into Brasilia's growing role in the region.
Trade tensions in the four-member Latin American trading bloc Mercosur are running high, with long-term damaging implications.
