1. Latin American Economies Mexico Cuba Guatemala Brazil

2. Mexico’s Economy and Government Mexico’s economy today is a market economy supported by a democratic government During the 20 th century, Mexico’s economy became more industrialized as factories were built and entrepreneurs started businesses. Ejidos still make up about half of the farmland in Mexico, but many farmers elected to change the community owned land (ejidos) to private land by dividing it up between farmers. This is an example of privatization- replacing community ownership with individual ownership. Advanced technology and industry have made Mexico a developed country.

3. Role of the Government During the mid-1900’s, Mexico’s government built new power plants to supply energy to factories and built homes for factory workers. The government assisted new companies through loans, lower taxes and strategies for paying back the loans. This encouraged production, new factories, new highways, railroads and airports to aid in distribution of products. Businesses became privatized as the government sold them to private companies.

4. Imports to Mexico Many US companies established factories along the border with Mexico. These are known as maquiladoras These factories import parts from the US to use in products that are exported back to the US after production These parts are duty or tax free to keep operating costs low. Other imports include steel mill products, aircraft parts, machinery

5. Exports from Mexico Mexico exports many minerals such as silver lead, zinc, graphite, sulfur and copper. Oil/petroleum is Mexico’s greatest export and the US is the greatest buyer of Mexican petroleum The petroleum industry in Mexico is a nationalized industry which means it is controlled by the government. (PEMEX is the agency which controls this industry) GDP is $1.483 trillion GDP per capita is $13,500

6. Cuba’s Economy and Government Cuba is a communist country and therefore has a command economy. Cuba’s workforce works to support the national government. In a command economy, the government controls the production and distribution of goods and services produced in that country. Since the collapse of the Soviet Union, Cuba has struggled to maintain its Communist ways without Soviet aid.

7. Cuba’s Imports Oil Grain Machinery Chemicals food

8. Cuba’s Exports Cuba’s largest export is Sugar At one time Cubans cut the canes with machetes, but with Soviet aid, were able to purchase machines to do the work. This allowed the sugar supply to multiply GDP is $110.8 Billion GDP per capita is $9,700

9. Guatemala’s Economy and Government Guatemala enjoys a democratic republic with 3 branches of government Guatemala’s economy is largely based on agriculture with half the workforce involved in this industry 2000 boasted the highest GDP in Central America Other industries include manufacturing of food, beverages and clothing

10. Guatemala’s Imports Tourists come from around the world to visit the ancient Maya ruins Oil Natural gas Electricity Machinery Construction equipment Grain fertilizers

11. Guatemala’s Exports The United States is the greatest trading partner with Guatemala Exports include textiles, clothing, cut flowers, winter fruits, bananas, cardamom, and sugar Largest export is coffee GDP is $69.22 Billion GDP per capita is $5,200

12. Brazil’s Economy and Government Brazil is a democratic government This country has the largest economy in South America There is both privatized and nationalized industry in Brazil The government controls the auto industry Agriculture and logging are leading industries in Brazil

13. Imports to Brazil Oil Natural gas Machinery Chemical products Electronics Auto parts

14. Exports from Brazil Coffee-Brazil produces more coffee than any other country in the world Other exports include oranges, bananas and corn GDP is $1.482 Trillion GDP per capita is $10,200

15. Summarize What is used to determine the health of a country’s economy? How can you determine how economically developed a country is? Underdeveloped? Developing? What role does a government play in a country’s economy? What are some advantages to a free-market economy? What is the difference between privatized and nationalized industry?