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Download Economics of Latin America
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Economics of Latin America To get the file: - Go to My Computer – S:) Student Read Only – Orso Folder – Latin America Folder – Open the file called Economics – LA – 10. Venezuela Check out this article: 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? OPEC Organization Countries Venezuela Money of Petroleum Exporting is a member from high oil prices has allowed them to purchase warships 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. Natural Resources Minerals: gold iron copper silver nickel Natural Resources Agriculture: good climate fertile soil 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 - Tourism 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 Answer these questions in your NOTEBOOK: 1. What are the positive and negative effects of NAFTA for Mexico? 2. What are the positive and negative effects of NAFTA for the US? Maquiladoras 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 Mexico gets: Jobs, decreased unemployment US Gets: Cheap labor for corporations, cheap goods for consumers Maquiladoras 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 urban areas that do not include benefits or protection of workers Examples – doing hair on the street for tourists 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 •South American Common Market •Created to increase trade, increase South American GDP’s •Similar to EU and NAFTA Mercosur member nations Greatest South American success Story The country of Chile: – Participation in global trade – Abundant Natural Resources Chile South America’s greatest economic success story. GDP per capita – 1945-2000 1. Global Trade 2. Exports Food and COPPER 3. Mercosur allows them to trade freely. Chile = Blue Rest of South America = Orange Corruption – when government officials break the law Examples – taking bribes, letting crimes go unpunished A history of corruption is one reason most Latin American countries are still developing economically. Immigration push factor pushes Mexicans to the SW of the US 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.
