How does García Márquez use the broader context of Colombian history in his book, especially with named historical figures like Sir Francis Drake?

García Márquez is widely renowned as one of the major figures of the Latin American magical realist literary device. What is the relationship in the text between plot elements and the fantastical?

The book opens with an inciting incident, Colonel Aureliano Buendía's impending execution by firing squad, which is narrated over 100 pages later. What effect does this delay have on the text? Why might García Márquez have chosen to structure the book this way?