Transcript Economics of Latin America mine L - orso2ndperiod

Economics of Latin
America
OPEC
 Organization
Countries
 Venezuela
 Money
of Petroleum Exporting
is a member
from high oil prices has
allowed them to purchase warships
Directions
1. Go to www.orso2ndperiod.wikispaces.com
2. Click 4th Marking Period
3. Go down to today’s date. Open the
powerpoint called “Economics of Latin
America mine L”
4. After you finish the Venezuela stuff in your
notebook. Use the powerpoint to complete
the worksheet.
Venezuela

Check out this article:
http://news.bbc.co.uk/2/hi/americas/7628899.st
m
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Questions:

1. What are the warships going to do?
2. What implications does this have for the US?
SWITCH



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Now switch over to the worksheet.
Do not take notes in your notebook
anymore
Your goal is to use the notes on the slides
to complete the worksheet
Attach the worksheet into your notebook
next to your Trade intro page.
Natural Resources
Minerals:
gold
iron
copper
silver
nickel
Natural Resources
Agriculture:
good climate
fertile soil

Colonial Influences in the
Caribbean
Spanish:
Established sugar plantations
Indians and Africans:
Used as forced labor
Cash Crops
Crops
grown for direct sale,
not for use in the region
Examples: sugar, bananas,
citrus fruits, coffee
Benefit land owners, not
workers
Economic Growth after
Colonialism
Caribbean island resorts
 Generates income
 Provides jobs
NAFTA

North American Free Trade
Agreement

Trade agreement creating a
cooperative trade zone between the
US, Canada, and Mexico

Mexico trying to reduce poverty and
increase industrialization
NAFTA Article
Access the article below:
 http://news.bbc.co.uk/2/hi/americas/3492
009.stm

Answer these questions in your
NOTEBOOK:
1. What are the positive and negative
effects of NAFTA.
- Answer them for both Mexico and the US

Maquiladoras

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Factories in Mexico used to
assemble imported materials into
finished products and export them
mostly back to the US
Located mainly along northern
border of Mexico
Examples of goods-electronic
equipment, clothing, furniture
Maquiladoras
Where people live



Central America-agriculture still
important
Caribbean islands-tourism
important
Would these jobs be found in
urban or rural areas?
Informal Economy

jobs found in the tourism industry
that do not include benefits or
protection of workers
FTAA

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
Free Trade Area of the Americas
Offers greater trading
opportunities, world markets and
economic growth for member
countries
To include all countries of North
and South America except Cuba
Designed to expand NAFTA
Mercosur - Trade Group
•South American Common
Market
•Created to increase trade,
increase South American
GDP’s
•Similar to EU and NAFTA
Mercosur member nations
Greatest South American success
Story
 The
country of Chile:
– Participation in global trade
– Abundant Natural Resources
Chile

South America’s
greatest economic
success story.
GDP per capita – 1945-2000
1. Global Trade
2. Exports Food and
COPPER
3. Mercosur allows
them to trade
freely.
Chile = Blue
Rest of South America = Orange
Corruption – when government officials
break the law

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Examples – taking bribes, letting crimes go
unpunished
A history of corruption is one reason most
Latin American countries are still developing
economically.
Immigration push factor  pushes Mexicans
to the SW of the US
Panama Canal

Panama Canal is a
system of locks that
shortens the travel time
and distance from the
Pacific Ocean to the
Atlantic Ocean

Panama Canal is an
economic chokepoint in
Latin America.