xDachille: Latin America economics (Industry)
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- Bolivia’s Foreign Investment Resentmen
- Tin mines
- Capital Investment
- Crucial funding that makes things like industrialization possible.
- Chile’s Foreign Investment Resentment
- US copper mines nationalized by Allende in 1971.
- Cuba’s Foreign Investment Resentment
- $1.4 billion in US assets taken without compensation.
- Debt Payments
- Often keep small farmers in a cycle of continuous poverty.
- Deforestation
- When forest are wiped out.
- Foreign Investment History
-
British constructed railroad in Argentina (1857-1912).
US: Oil (Venezuela & Mexico); mining, fruit. $12 billion in 1970. - Free Trade
- Trade without restrictions generally only benefiting the more advanced economy (country).
- Government Instability
-
Discourgaes capital investment.
Caudillos won’t develop infrastructure for industrialization - Industrial investment
-
Limited because: land ownership is more attractive;
Money more secure in US & Europe;
Wealthy Latin Americans want a quick return. - Mexico’s Foreign Investment Resentment
- Oil fields.
- Mineral Export Dependence
- Bolivia (tin); Chile (nitrates & copper); Brazil (rubber 1900-1912); Venezuela (oil, iron ore)
- NAFTA
- North American Free Trade Agreement between US, Mexico & Canada. Often criticized as US exploiting Mexican labor.
- Nationalism
- Claiming resources and assets of country as belonging to the home country (not foreign ownership).
- Population Growth
-
Children seen as old parent’s security.
Pop gorwing faster than industrial base.
Urbanization in 1970s & 1980s. - Tax Problems
- Wealthy pay the least tax.