Panama Canal Video Clip Question – 1. How does the Panama Canal work?
Panama Canal Panama Canal is a system of locks that shortens the travel time and distance from the Pacific Ocean to the Atlantic Ocean Panama Canal is an economic chokepoint in Latin America.
OPEC Organization of Petroleum Exporting Countries Venezuela is a member Money from high oil prices has allowed them to purchase warships
Venezuela Check out this article and watch the clip: http://news.bbc.co.uk/2/hi/americas/7628899.st m http://news.bbc.co.uk/2/hi/americas/7628899.st m http://news.bbc.co.uk/2/hi/americas/7628899.st m Questions: 1. What are the warships going to do? 2. What implications does this have for the US?
SWITCH Now switch over to the worksheet. Do not take notes in your notebook anymore Your goal is to use the notes on the slides to complete the worksheet Attach the worksheet into your notebook next to your Trade intro page.
Colonial Influences in the Caribbean Spanish: Established sugar plantations Indians and Africans: Used as forced labor
Cash Crops Crops grown for direct sale, not for use in the region Examples: sugar, bananas, citrus fruits, coffee Benefit land owners, not workers
Economic Growth after Colonialism Caribbean island resorts Generates income Provides jobs
NAFTA North American Free Trade Agreement Trade agreement creating a cooperative trade zone between the US, Canada, and Mexico Mexico trying to reduce poverty and increase industrialization
NAFTA Article Access the article below: http://news.bbc.co.uk/2/hi/americas/3492 009.stm http://news.bbc.co.uk/2/hi/americas/3492 009.stm http://news.bbc.co.uk/2/hi/americas/3492 009.stm Answer these questions in your NOTEBOOK: 1. What are the positive and negative effects of NAFTA. - Answer them for both Mexico and the US
Maquiladoras Factories in Mexico used to assemble imported materials into finished products and export them mostly back to the US Located mainly along northern border of Mexico Examples of goods-electronic equipment, clothing, furniture
Where people live Central America-agriculture still important Caribbean islands-tourism important Would these jobs be found in urban or rural areas?
Informal Economy jobs found in the tourism industry that do not include benefits or protection of workers
FTAA Free Trade Area of the Americas Offers greater trading opportunities, world markets and economic growth for member countries To include all countries of North and South America except Cuba Designed to expand NAFTA
Mercosur - Trade Group Mercosur - Trade Group South American Common Market Created to increase trade, increase South American GDP’s Similar to EU and NAFTA Mercosur member nations
Mercosur Goals—to make members’ economies more stable, –increase trade in the region, –to use some money to improve the most needy
Greatest South American success Story The country of Chile: –Participation in global trade –Abundant Natural Resources
Chile South America’s greatest economic success story. 1. Global Trade 2. Exports Food and COPPER 3. Mercosur allows them to trade freely. GDP per capita – 1945-2000 Chile = Blue Rest of South America = Orange
Corruption Corruption - Acting dishonestly or immorally. A history of corruption is one reason most Latin American countries are still developing economically.