Latin America Economic Development & Characteristics ©2012, TESCCC

Economic vocabulary-LA Subsistence farming Terracing farming Deforestation/reforestation NAFTA Maquiladoras slash & burn farming Plantation farming ©2012, TESCCC

Latin America economic development Latin America is marked by regional development. There are many areas of Latin America that have remained almost unchanged over the decades, and even centuries, while growth in some areas has been phenomenal. ©2012, TESCCC

Economic characteristics diverse economies subsistence farming plantation agriculture slash and burn agriculture cash crops and food crops haciendas cattle ranches and gauchos ©2012, TESCCC

destruction of the rainforests deforestation destruction of the rainforests oil resources--Ecuador, Venezuela, Mexico Heavy smog and pollution--Mexico City ©2012, TESCCC

diverse mineral resources copper in Chile disparity of income distribution (unequal distribution of wealth)…factors causing this: social, political, economic & physical geography of region NAFTA member diverse mineral resources copper in Chile iron ore in Venezuela and Brazil ©2012, TESCCC

Reasons for growth primarily center on increased global trade that has created new job markets. Many countries still rely on major products for export (rum, sugar, bananas, coffee, copper, and other minerals) and tourism as their primary source of income. ©2012, TESCCC

Although rich in natural resources, geographic, political, & economic obstacles have kept resources from being developed fully or shared equally ©2012, TESCCC

Levels of development Less Developed: low literacy rate, low per capita income, low GDP, little to no industry, low life expectancy, high infant mortality rate (agricultural based) Newly Industrialized: movement towards more industrialized and less agricultural base More Developed: high literacy rate, high per capita income, high GDP, high life expectancy, low infant mortality rate, etc. ©2012, TESCCC

Factors contributing to economic development Political: form of government, political instability, colonialism Economic: trade routes, manufacturing centers, tourism, standard of living Social: historical settlements, cultural ties to the land, education/literacy levels, language religion ©2012, TESCCC

Panama Canal Early 1900s construction project of the USA (shortcut between Pacific & Atlantic Oceans…51 miles Served as a center of urbanization, transportation, & economic activities for Central America Control & ownership of Panama Canal was given to Panama in the 1977 (President Jimmy Carter) ©2012, TESCCC

©2012, TESCCC

©2012, TESCCC

©2012, TESCCC