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In the midst of econimic crisis, stronger, authoritarian governments of different types rose in latin american countries. Pg 391 on modern world history
Mercantilist policies made Latin America economically dependent on Spain and Portugal
The economies of Latin American nations is controlled by a small group of landed elite and foreign investors. Many of the profits do not stay in the country and do not lead to the betterment overall.
1) Forming economic blocs. Some examples include Mercosur (Mercado comun del Sur / Southern Common Market) between Argentina, Venezuela, Uruguay, Paraguay and Brazil, and NAFTA (North American Free Trade Agreement) between Mexico, Canada and the United States.2) Diversifying their economies. Most countries within the region export natural resources, such as soybeans (Brazil), oil (Venezuela) or copper (Chile).
borrowe money
borrowe money
Great Society
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U.S. intervention in Latin American economies
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In the 1970s, Latin American nations grew more dependent as they attempted to maintain their weak economies by borrowing money. Between 1970 and 1982, debt to foreigners grew from 27 billion to 315.3 billion. By 1982, a number of Latin American economies had begun to crumble. Wages fell, and unemployment and inflation skyrocketed.
The Pan-American Union grew out of efforts by the United States to improve relations with Latin America.
Based on slave labor
The United Fruit Company held a large stake in the economies of several Latin American nations during the 1920s and 1930s.
Foreign companies often controlled the economies of Latin American countries