Read “Economic & Social Development” from page #161 in text.
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Transcript of Read “Economic & Social Development” from page #161 in text.
![Page 1: Read “Economic & Social Development” from page #161 in text.](https://reader036.fdocuments.us/reader036/viewer/2022062423/56649ef25503460f94c039d9/html5/thumbnails/1.jpg)
Monday, December 16th
Read “Economic & Social Development” from page
#161 in text.
![Page 2: Read “Economic & Social Development” from page #161 in text.](https://reader036.fdocuments.us/reader036/viewer/2022062423/56649ef25503460f94c039d9/html5/thumbnails/2.jpg)
After today… Students will be able to rank the
economic “health” of the countries that make up Latin America.
Students will understand the economic history of Latin America.
Students will determine the impact of trade agreements on the economy of LA.
![Page 3: Read “Economic & Social Development” from page #161 in text.](https://reader036.fdocuments.us/reader036/viewer/2022062423/56649ef25503460f94c039d9/html5/thumbnails/3.jpg)
Economic indicators According to chart 4.2 from page #161
who had the “highest” GNI per Capita PPP in 1999?
According to chart 4.2 from page #161 who had the “lowest” GNI per Capita PPP in 1999?
Rank from strongest to weakest GNI per Capita PPP
How did your ranking of strongest to weakest economies compare to chart 4.2?
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Haves & Have Nots… Many Latin American
countries are part of the developing world.
They do not possess a large / reliable middle class. See page #165
Nearly 1/3 of all people in Latin America live on less than $2.00 a day
Source: Textbook
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Conquistadors The “outside” world
has had an interest in taking advantage of LA’s economic riches since the first Spanish Conquistadors came searching for gold and other precious metals.
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NEW Conquistadors??? Some people feel
that economic powers like the USA are still trying to take advantage of Latin American countries like Mexico through trade agreements like NAFTA.
Economic Imperialism
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Read Maquiladoras AND
Foreign Investment from page #164 in textbook.
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Maquiladoras Mexican factories that
line the border with the USA.
Are “American” companies taking advantage of Mexico’s proximity, low wage workers and sometimes lax environmental policies?
Outgrowth of NAFTA
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Foreign Trade The United
States is the #1 trade partner for Latin American countries.
The European Union is the #2 trade partner for Latin American countries.
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Informal Sector Untaxed and
unregulated economic activity.
Makes up a large % of the non agrarian employment of many LA people.
Legal – housing Illegal – drug trade
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Currency Matching Bolivia
Brazil
Argentina
Ecuador
French Guiana
USA Dollar
Euro
Pesos
Real
Boliviano
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Dollarization The process by
which a country in whole or part adopts the US dollar as its official currency.
Common in many LA countries.
Would an American business accept the peso?
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Trans-nationalism The phenomenon
whereby many immigrants maintain close contact with their home country.
Many immigrants from LA send US dollars to family living back “home”.
Remittance payments
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Social Progress
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After today… Students will be able to rank the
economic “health” of the countries that make up Latin America.
Students will understand the economic history of Latin America.
Students will determine the impact of trade agreements on the economy of LA.