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It is important for Latin America to diversify its economy because for one thing, L.A. (Latin America) wouldn't have to take the risks of a failed business by relying on one crop or resource. Another reason is that more diversed crops or resources brings in a steady amount of money with varied products, and L.A. would be taking their chances by just relying on one crop/resource.
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How did spanish and portuguese policies prevent their latin American colonies from developing their own economies?
Mercantilist policies made Latin America economically dependent on Spain and Portugal
How did mercantilism affect Latin America?
Mercantilism significantly influenced Latin America by establishing colonial economies focused on extracting resources for the benefit of European powers, particularly Spain and Portugal. This system restricted local economies, as colonies were required to trade primarily with their mother countries, leading to a reliance on cash crops and raw materials. Consequently, it stunted the development of diverse industries within Latin America and fostered social inequalities that persisted long after independence. Overall, mercantilism shaped the economic and social structures that defined the region's colonial legacy.
What seriously weakened Latin American economies in the mid 1900s?
huih
How has primary export dependency shaped the economies of Latin America?
Primary export dependency has significantly shaped the economies of Latin America by creating reliance on a limited range of commodities, such as agricultural products and minerals. This reliance often leads to economic vulnerability due to fluctuations in global market prices and demand. Additionally, it can hinder diversification and innovation, as resources are funneled into a few sectors, often resulting in income inequality and underdevelopment in other areas. Consequently, many Latin American countries face challenges in achieving sustainable economic growth and resilience.
What is one-resource economy in Latin America?
One-resource economies are dependent on the income of usually one export commodity such as tropical fruit, oil or some other natural resource. In Latin America, such countries include Venezuela (oil), Suriname (aluminum), Dominica (bananas), French Guiana (seafood) and Saint Vincent and the Grenadines (bananas).
How did Latin America develop and control their own economies?
Latin America is not developed.
What was the most important crop in latin America?
Corn (maize) was the most important crop in Latin America, as it was a staple food for many indigenous civilizations such as the Aztecs and Incas. It played a crucial role in their diets, economies, and cultures.
What country dominated the economies of latin America after independence?
The United States.
Which of the following statements about foreign companies in Latin America was true?
Foreign companies often controlled the economies of Latin American countries
What statement is true A The Roosevelt Corollary led to US intervention in the economies of Latin America B The Roosevelt Corollary led to U S involvement in European economics C The Roosevelt?
the Roosevelt corollary led to U.S. intervention in the economies of Latin America.
How did spanish and portuguese policies prevent their latin American colonies from developing their own economies?
Mercantilist policies made Latin America economically dependent on Spain and Portugal
What are important names in Latin America?
the answer is maracaibo
Are weddings in Latin America important?
yes
What is the root word for diversify?
The root word for diversify is "diverse," which comes from the Latin word "diversus," meaning "different" or "various."
Which has better economies North America or Latin America?
North America (i.e. the United States) does. The US is the most advanced economy in the world, while most countries in Latin America are still considered emerging markets; one or two generations away from becoming developed. The most advanced economies in continental Latin America include Chile (GDP per capita of $19,100), Argentina ($19,100) and Uruguay ($16,600), which are still behind "troubled" developed nations such as Portugal ($22,900) and Greece ($23,600).
What is the most important waterway in Latin America?
The Amazonas river, in South America.
Who are some important people in latin America?
the president
