🇧🇴 Bolivia

Bolivia is South America's poorest country by per capita income but sits on some of its richest resources. The population of 12 million is spread across terrain ranging from Amazonian lowlands to the Altiplano at 4,000 meters. GDP is about $44 billion. Bolivia holds the world's largest lithium reserves in the Salar de Uyuni — an estimated 21 million tonnes — but has struggled to commercialize them. La Paz, at 3,640 meters, is the world's highest administrative capital. The country has the largest proportion of indigenous people in the Americas, at about 40% of the population.

Natural gas has been the primary export earner, but production is declining — output has fallen about 30% from its peak. Zinc, silver, tin, and gold mining are significant. Brazil and Argentina are the main gas customers. The economy grew steadily under Evo Morales (2006-2019) with poverty rates halving, but growth has slowed to 2-3%. Bolivia's challenge is turning lithium reserves into actual revenue before the market moves on.

Bolivia's Salar de Uyuni is the world's largest salt flat at 10,582 square kilometers — so flat that it's used to calibrate satellite altimeters. The country has a "cholita wrestling" tradition where indigenous Aymara women in traditional dress perform lucha libre. Bolivia's North Yungas Road was dubbed the "Death Road" — it's now a major mountain biking tourist attraction.

Bolivia's lithium could be transformative, but the window is narrowing as competitors ramp up production. Declining gas revenue and political instability make the next few years critical.