In Central America, one of the primary problems is that Central American economies are dependent on remittances or the money they get from citizens working in other countries. For instance, in El Salvador, the financial sector is dependent on the remittances El Salvador receives from the United States.
Another problem in Central America that has come about because of the decline in the agriculture industry is unemployment. This leads to people seeking work in other countries, which both makes the economy dependent on remittances, and does not contribute to the creation of viable economies in their home countries.
Because it has few energy resources.
Southern banks struggled to support industrial development.
southern banks struggled to support industrial development
It peacefully rips off the material base for further generation's survival for present generations' present interest. Regardless that is done by cooperative or competitive economic developments. Resources are intrinsically limited and the process of resources consumption is irreversible. But human survival and development inevitably depend on it.
As economic goods are limited, one has to make choices to satisfy his needs. Thus, due to limited economic goods, opportunity costs rise.
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Because it has few energy resources.
Southern banks struggled to support industrial development.
Some of the least industrialized regions in the world are parts of sub-Saharan Africa, Central Asia, and parts of Oceania. These regions often have limited access to technology, infrastructure, and economic resources, which hinders industrial development.
countries that are not developed.
Poverty in Central America and the Caribbean Islands is driven by a combination of factors, including limited access to education, high unemployment rates, and political instability. Economic dependence on agriculture and tourism makes these regions vulnerable to external shocks, such as climate change and global market fluctuations. Additionally, social inequalities and inadequate infrastructure further exacerbate the situation, hindering economic growth and perpetuating cycles of poverty. As a result, many communities struggle to achieve sustainable development and improve living conditions.
southern banks struggled to support industrial development
southern banks struggled to support industrial development
Money. Most governments don't pay transporters. Money, again, for lack of infrastructure. Lack of interest on behalf of investors. That pretty much sums it.
Mountainous terrain in Latin America can create barriers to transportation and communication, leading to higher infrastructure costs and limited access to resources. This can hinder economic development by restricting trade, investment, and overall connectivity between regions. Additionally, steep slopes and rugged terrain can limit the suitability of land for agriculture and urban development, further impacting economic growth in these areas.
An example of a periphery country is Honduras in Central America. It is characterized by its economic dependence on more developed countries, limited industrialization, and reliance on agriculture for export earnings. Periphery countries often face challenges such as high levels of poverty and limited access to resources and technology.
Central Electronics Limited was created in 1974.