1. Latin America Economic Development & Characteristics
©2012, TESCCC

2. Economic vocabulary-LA
Subsistence farming
Terracing farming
Deforestation/reforestation
NAFTA
Maquiladoras
slash & burn farming
Plantation farming
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3. 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.
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4. Economic characteristics
diverse economies
subsistence farming
plantation agriculture
slash and burn agriculture
cash crops and food crops
haciendas
cattle ranches and gauchos
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5. destruction of the rainforests
deforestation
destruction of the rainforests
oil resources--Ecuador, Venezuela, Mexico
Heavy smog and pollution--Mexico City
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6. 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
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7. 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.
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8. Although rich in natural resources, geographic, political, & economic obstacles have kept resources from being developed fully or shared equally
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9. 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.
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10. 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
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11. 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)
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