Would stronger South American states have marginalized the doctrine?

How would greater South American stability in the nineteenth century have affected the Monroe Doctrine?

Stronger and more stable regional powers could have made the doctrine's American leadership claim less credible, especially when the United States was comparatively weak.

The counterfactual gives South American states more stable nineteenth-century governments. Brazil's periods of economic strength show why this need not depend on inventing resources the region lacked. Political instability is identified as an obstacle to sustaining that strength. More stable regional powers could have moved ahead of the United States at particular moments, making its claims to leadership harder to sustain.