The Positive Impact Of Industrialization On The Latin American Economy

1233 Words5 Pages
Latin American economy has been impacted through the first world countries such as the United States & China. Latin America receives imports and exports from first world countries. The impact of industrialization on Latin American countries is significant. First world countries industrialization caused a strong demand in Latin American countries. There are downsides for Latin American countries such as competition from which good is more efficient from what first world country its coming from. Throughout, recent years these imports into and out of Latin America impacted countries positively and negatively. Furthermore, industrialization includes labor for developing and manufacturing goods in a first world country. Depending where labor is cheaper more goods are made which increased amount of profit. First world countries have industrialization has a positive impact on Latin America’s economy. According to (Cadena, Remes, Grosman, and Oliveira 2017) it says In the U.S, the GDP impact could be between $1.6 trillion and $2.2 trillion. … Can make the labor market more efficient and transparent; their ability to accelerate job searches could lower the equilibrium unemployment rate, while better job matches could have a positive effect on productivity. First world countries industrialization has a positive impact on Latin America countries because they are able to receive goods that aren’t costly due to low labor in first world countries such as China. The goods
Get Access