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Economics in Latin America

Economics in Latin America. Natural Resources. Minerals: gold iron copper silver nickel. Success of Agriculture. Agriculture in Latin America has been successful because of: good climate fertile soil. Colonial Influences in the Caribbean. Spanish:

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Economics in Latin America

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  1. Economics in Latin America

  2. Natural Resources Minerals: • gold • iron • copper • silver • nickel

  3. Success of Agriculture Agriculture in Latin America has been successful because of: • good climate • fertile soil

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

  5. Tourism Caribbean island resorts help the economy of Latin America by: • Generating income • Providing jobs

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

  7. Informal Economy • Jobs found in the tourism industry that do not include benefits or protection of workers

  8. Maquiladoras • Definition: • Factories in Mexico used to assemble imported materials into finished products and export them mostly back to the US • Location: • mainly along northern border of Mexico • Examples of goods: • electronic equipment, clothing, furniture

  9. Maquiladoras

  10. 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.

  11. Panama Canal Video

  12. NAFTA • NAFTA stands for: • North American Free Trade Agreement • Definition: • Important trade agreement creating a huge zone of cooperation on trade and economic issues in North America

  13. NAFTA • How does NAFTA affect Mexico? • Mexico is trying to reduce poverty and increase industrialization. • Economic Importance: • Creates jobs for millions of people in the member nations.

  14. OPEC • OPEC stands for: • Organization of Petroleum Exporting Countries • Latin American Members: • Ecuador • Venezuela

  15. OPEC • What does this organization do? • Helps member countries control worldwide oil prices. • Economic Effects: • Stabilizes and maintain the country’s source of income.

  16. FTAA • FTAA stands for: • Free Trade Area of the Americas • Definition: • Offers greater trading opportunities, world markets and economic growth for member countries

  17. FTAA • Which countries are members? • all countries of North and South America • Which country is EXCLUDED? • Cuba

  18. Mercosur • Definition: • 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

  19. Mercosur • Members: • Brazil • Paraguay • Uruguay • Argentina • Bolivia • Chile

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