The Economic Progress Of Latin America

Latin America went from isolated to connected with the rest of the world during the time period 1450 to 1750 because of colonization by the Europeans. However, the economy, slavery, and the tribal systems stayed the same.

The Latin American countries have been subject to many changes ever since the American continent was discovered. These changes have mainly affected the economy, culture and power changes these countries have suffered throughout the years. According to Jon Charles Chasteen on his book “Born in Blood & Fire” During the twentieth century, there were three main events that changed the course of Latin American countries and their economies. These three events were, the emergence of nationalism, the end of World War II, and the Cuban revolution. However, in my point of view, the event that created more impact in Latin America and the future of these countries has been Cuban Revolution. It is not a secret that the Cuban Revolution created a big impact to the country’s future, unfortunately this revolution not only changed Cuba, but also the entire region of Latin America.

During the late 1800s, Latin America economy developed as the production of goods commenced. Latin American became “reintegrated into the world economy in the years after 1870, thanks to the rise in the demand for Latin America’s raw materials by the rapidly industrializing nations of Europe and the United States.” By the reintegration into the world of economy, Latin America started importing finished goods and exporting raw materials. All this was possible by the technology, capital and markets provided by industrialization nation.

The root of liberalism ideas in America, as in the rest of the world, came from the age of Enlightenment in France. After the revolution, French intellectuals began new ideas of liberty, fraternity and equality. These ideas will spread later on in Europe and the Americas during the Napoleon era. Just after that time, the Latin Americans began their journey to independence in 1808. The Liberals in Latin America believed in democracy and were against the power of church, social classes and slavery while the conservative wanted to keep the same systems existing before the independence. Although the conservatives and the church ruled for decades in Latin America, the liberals will come back in 1825 due to the social and economic transformation

Amid chaotic and drastic changes within Latin America, there is one country whose economy’s improvement has outshone the rest. According to a recent interview by CNN to the current vice president at Council of the Americas, it was possible to know that “Peru is currently Latin America’s fastest growing country”. Additionally, drastic reforms and innovative policies have fostered an environment that favours economic development. Although there is a lot left to do regarding public investment, the country has experienced drastic growth and several changes during the past years. Currently, the new president and the newest reforms have influenced the government and now the country is focusing on exporting processed goods instead of raw materials.

There are many fascinating regions to study in the world. In particular, the Latin Americas often catch peoples’ eyes. There are so many interesting things to study about the Latin Americas; like their many types of foods, traditions, religions, history, etc.… One of the most interesting countries in the Latins Americas is Argentina. Argentina is a unique country to visit, or study.

There are multiple changes regions go through that shape the way run/do things. Latin America is no different than any other place in this aspect. Sometimes effect can be both positive and negative. Neoliberalism, the Central American Common Market (CACM), and globalization have made an impact on Latin America, because one way or another Latin America has learned from effects of them.

When the Europeans first arrived in Latin America, they didn't realize the immensity of their actions. As history has proven, the Europeans have imposed many things on the Latin American territory have had a long, devastating effect on the indigenous people. In the centuries after 1492, Europeans would control much of South America and impose a foreign culture upon the already established civilizations that existed before their arrival. These imposed ideas left the continent weak and resulted in the loss of culture, the dependence on European countries, and a long standing ethnic tension between natives and settlers which is evident even to this day. The indigenous people of South America, which

combine with social traits as though socio-economic status. So that a person is ranked not only according to physical phenotype, but also according to social standing.Race is often conceptualized as a system of categorization where the membership is limited to one category and is externally described by others who are not members of that category and without regards to the individuals own feeling of membership.Peninsular,Criollo,Indio,and Negro were the four main ranks of race.

German physician Rudolf Virchow makes the claim that “medicine is a social science”. He asserts that there are social, political and economic factors that influence people’s perception of their bodies producing culturally unique forms of sickness. To determine whether this statement is true, one can easily look at sicknesses in different regions of the world. For example, Susto is a sickness found in Latin America that is characterized by chronic somatic suffering because of emotional trauma (Rubel 1964). The fact that this sickness is not found anywhere else in the world means that we can’t ignore the factors that might produce Susto in Latina America. Therefore, medicine can be argued to be a social science because it is influenced by social, political, and economic features.

What are the major economic problems that have plagued Latin America in the 20th century?

After the end of the World War II the world faced the challenges of economic and social recovery. The majority of developing countries based their economies on Import Substitution Industrialization (ISI), the state-oriented approach to a trade and economic policy. ISI supports the replacement of import with domestic production in order to reduce foreign dependency. This protectionist policy dominated in developing countries, especially in Latin America and sub-Saharan Africa, during the first 30 years after the World War II. By 1980s, when the main gains of ISI were exhausted and it demonstrated its inefficiency, the countries of East Asia adopted a new development strategy. Consequently, this new export-oriented and market-friendly strategy, so-called East Asian model, has determined the successful economic and trade policy of East Asian countries during the next several decades. To understand the reasons of the shift from ISI to the East Asian model, it is needed to carefully examine and contrast these two approaches and their supporting theories.

In this essay we look in-depth on how government strategies and economic policy play a crucial role in the success of High Performance Asian Economies (HPAEs) during 1960 to 1990 (World Bank 1993).There are eight countries within HPAEs: South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia and Japan. Its economic development has significantly rise that it was name ‘East Asia Miracle’ (World Bank, 1993).

La tierra mas hermosa. The most beautiful land. Latin America and the Caribbean maintain the humble beauty of many indigenous regions. The rugged mountains of Bolivia are scattered across graded lands. The Quechua people can be seen wearing richly decorated ponchos as they plant seeds for forming. Weathered volcanic lavas are stretched over the lands of Guatemala, and the heavily wooded forest trees can also be seen in the eastern slopes of the Andes. The azure blue oceans of Havana sparkle as the golden sun illuminates the sky. These humble lands have always been here; streams of people have flowed through these lands for centuries. It is only the globalización that is relatively new, and along with that comes the life one lives in these lands--pobreza y viviendo en el infierno [poverty and living in hell]. The impact of globalization in Latin America has caused a ripple in the lives of many individuals living in Latin America and the Caribbean. Although globalization is not a new concept, the process of globalization has drastically expanded and involved into social, political, and economic changes that weakens the sovereignty and power that helps create policies and reform government institutions.

The resilience and rapid-growth of East Asian economies even in the face of rising protectionism in their major export markets and a global recession, has intrigued developmental specialists who see Latin America as a prime candidate for comparison. By becoming increasingly libertarian and by embracing neo-liberalism Latin American countries have sought to emulate the success of East Asian economies. Nevertheless they have found it difficult to maintain their previous levels of growth, confronting piling external debts, high rates of inflation, shortages of investment capital, and the growing social and economic marginalisation of their population. Latin America’s industrialisation can be seen as a decedent of the East Asian model, however