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Notes -
Agreed, they had a particularly difficult time between trying to make a quantum leap from a country excelling in agriculture to an industrialized nation via extreme ISI, coupled with a broader international economic landscape that didn't support them. I have to assume their export driven economy in particular took a significant blow following the opening of the Panama Canal redirecting shipping, trade, and investment to the North, making their geographical position at the far south suddenly a hindrance rather than a unique advantage. Between the World Wars their FDI also dried way up as their former European sponsors went broke and America remained aloof, distrustful of what it saw as South American fascism (famously prohibiting European countries from purchasing from Argentina with Marshall Plan funds). As economic conditions got worse people naturally protested and the government responded by writing populist checks that its deteriorating trade and investment landscape couldn't really cover, and things spiraled ever farther.
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