At the turn of the new millennium and the third decade of the neo-liberal era, widespread discontent and the rejection of neo-liberalism across the region gave way to a tidal wave of new regimes on the centre-left with a progressive agenda. The resulting progressive cycle in Latin American politics implicated the governments of Argentina and Brazil in what has been described as a 'pink' tide of regime change, and the governments of Venezuela, Bolivia and Ecuador in a 'red' tide. The chapter reviews dynamics of class struggle associated with this progressive cycle. Argentina has been the centre of high-intensity class struggle from above and below over the last half-century. Correa's 'Citizen Revolution' is essentially based on deepening of a capitalist developmental model rooted in mining, oil and hydroelectric power. The victory of the hard-right, neo-liberal Mauricio Macri in Argentina and the right-wing coup of the presidency in Brazil do not necessarily augur a new right-wing cycle in Latin American politics.