Go back 50 years and Latin America was generally wealthier than East Asia. But that has been reversed.

While the economies of East and South East Asia have taken off, enjoying a so-called "economic miracle", Latin America’s have experienced only tepid growth, despite the region’s enormous potential. Gideon Long asks why.

We go to Singapore, one of the most open and business friendly nations on earth, to visit a factory making credit cards using the latest computer chips. And we ask economists what Latin America can learn from the 'Asian Tigers'.

(Image: A photograph of a tourist boat in Singapore next to a drone view shot showing buildings in Sao Paulo, Brazil. Credit: Reuters/EPA)

Presented and produced by Gideon Long Reporter: Monica Miller