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Monday, December 16 th

Monday, December 16 th. Read “Economic & Social Development” from page #161 in text. 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.

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Monday, December 16 th

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  1. Monday, December 16th Read “Economic & Social Development” from page #161 in text.

  2. 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.

  3. 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?

  4. 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

  5. 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.

  6. 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

  7. Read Maquiladoras AND Foreign Investment from page #164 in textbook.

  8. 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

  9. 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.

  10. 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

  11. Currency Matching • Bolivia • Brazil • Argentina • Ecuador • French Guiana • USA Dollar • Euro • Pesos • Real • Boliviano

  12. 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?

  13. 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

  14. Social Progress

  15. 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.

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