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Some raw materials can be quite profitable for export, but leave almost nothing to the country as a whole. Some examples include crude oil, unrefined copper or lithium salts. These are dig up from the underground and immediately sent overseas for profit; lets say US$100 per ton of unrefined copper.
If a country tries to sell manufactured goods instead of raw materials, it will eventually switch to an industrialized economy, where products can be sold for higher profits and people will have higher living standards; for example US$30,000 for a finished luxury car.
On a more international level, you can see this pattern among countries: while industrialized countries like Japan, Germany or the United States export manufactured goods, poorer countries only export raw materials; the poorest countries in the world resort to export only one or two products, like bananas, diamonds or natural gas.
What else can I help you with?
What did many Latin American countries do in response to the Great Depression?
Latin's had exported raw materials while buying manufactured goods from industrialized countries.
How many Latin American countries are there?
There's to be about 20 Latin American countries
What juggling act do latin American countries face?
The Latin American countries are juggling to face protection. The Latin American countries are wanting to protect their rain forests.
Is the economies of latin American nations have been based largely upon exporting raw materials and importing finished goods making them dependent upon economic success is true or false?
True
Are Peru or Chile Latin American countries?
Peru and Chile are both Latin American countries. South America, Central America, and Mexico are all considered Latin American countries.
What are the names of the northernmost countries in Latin America?
Mexico and Cuba are the northernmost Latin American countries.
What countries were involved in the roosevelt corollary?
Latin American Countries
How were the economies of Latin American colonies and European countries connect by trade?
Latin American countries were not industrialized but produced raw materials - agricultural, timber, metals and so on. The European countries needed these for their continuous wars and since the second half of the 18th century, for their industrialization efforts. So, European countries imported these commodities, returning processed goods to pay for them. The profits remained in Europe and Latin America remained undeveloped.
What was on effect of the latin American revolutions of the 19th century?
Many Latin American countries achieved independence.
What are the official languages of most Latin American countries?
The official language of most Latin American countries is Spanish. However, in countries such as Brazil, the official language is Portuguese. Additionally, some countries have recognized indigenous languages as official, such as Quechua in Peru and Guarani in Paraguay.
What was one effect of the Latin American revolution of the 19th century?
Many Latin American countries achieved independence.
How does Florida's location affect its relationships with Latin American countries?
Because the closest Latin American country is Cuba
