The Economic Situation Of Latin America

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Latin America is filled with environmental, agricultural and culturally rich countries but unfortunately it is also the place where the majority of the countries have high levels of poverty and social inequalities. Latin America is the place where we find many natural wonders like the Amazon rainforest, the Andes, the Iguazu Falls and many other natural resources. However, the economic situation is one of the poorest in the world. According to the article, The Politics of Economic adjustment policy in Argentina, Brazil, and Mexico: Experiences in the 1980’s and challenges for the future, and in, Latin American countries underwent the worst economic recession during the 1980’s. The distribution of incomes after the 1940’s was a radical change because there was a huge gap between poverty level and the elite members of society. After that point in history it has continued the same way up until contemporary times. The considerable difference in the income inequality and the high poverty rates is what interested me and in particularly during the 70’s and 80’s, which is known as “la decada perdida” or the lost decade. The lost decade was a time of economic austerity in many countries in Latin America and this is why I became interested in this topic. As a result, I interviewed my grandfather, Jose Gomez, who lived in Mexico during those harsh times of crisis that were affecting many Latin American countries during the 1970’s and 1980’s. History about Mexican Economy before
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