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Economics of Latin America

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Presentation on theme: "Economics of Latin America"— Presentation transcript:

1 Economics of Latin America

2 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.

3 Panama Canal Video

4 OPEC Organization of Petroleum Exporting Countries
Venezuela is a member Money from high oil prices has allowed them to purchase warships

5 Venezuela Check out this article and watch the clip:
Questions: 1. What are the ships going to do? 2. What implications does this have for the US?

6 Natural Resources Minerals: gold iron copper silver nickel

7 Natural Resources Agriculture: good climate fertile soil

8 Colonial Influences in the Caribbean
Spanish: Established sugar plantations Indians and Africans: Used as forced labor

9 Cash Crops Crops grown for direct sale, not for use in the region
Examples: sugar, bananas, citrus fruits, coffee Benefit land owners, not workers

10 Economic Growth after Colonialism
Caribbean island resorts Generates income Provides jobs

11 NAFTA North American Free Trade Agreement
Important trade agreement creating a huge zone of cooperation on trade and economic issues in North America Mexico trying to reduce poverty and increase industrialization

12 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

13 Maquiladoras

14 Where people live Central America-agriculture still important
Caribbean islands-tourism important Would these jobs be found in urban or rural areas?

15 Informal Economy jobs found in the tourism industry that do not include benefits or protection of workers

16 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

17 Mercosur Economic common market that began operating in the southern cone of South America in 1995 Goals—to make members’ economies more stable, increase trade in the region, to use some money to improve the most needy

18 Greatest South American success Story
The country of Chile: Participation in global trade Abundant Natural Resources

19 Corruption Corruption - Acting dishonestly or immorally.
A history of corruption is one reason most Latin American countries are still developing economically.

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