This system was meant to effectively close off the economy from international trade in order to protect local industries. This system allowed the government's great control over the economy. This system worked well because both Venezuela and Mexico had over areas (such as oil and trade with US) which provided them with large amounts of wealth. Venezuela's economy depended greatly on oil exports; nearly 80% of their Gross Domestic Product (GDP) came from oil sales. During the 70's Venezuela enjoyed great profits due to the relatively high oil prices. Mexico's economy also prospered due to the relative prosperity of the United States economy and its close relationship with the United States. Just as Venezuela with oil, nearly 80% of Mexico's exports went directly to the US.
Without these large income sources Mexico and Venezuela were both unable to maintain economic prosperity under the ISI system. The collapse of oil prices in the early 80's caused Venezuela's economy to fall into a deep recession. With the loss of oil as a source of income that government had to rely on its industry. Mexico also dealt with similar problems. The fall of oil prices also hurt their economy, but it was the economic .
Gittings 3.
fallout in the United States that really hurt Mexico. Due to this close interdependency the fall of the United States economy in the 80's, while mild, meant that Mexico's fall was much worse. It is here that the troubles with ISI became clear. The years of protection that ISI had provided to industry meant that, compared to the rest of the world, Mexico's and Venezuela's manufacturing was inefficient and could not turn substantial profits. This also meant that both countries had to import a much greater amount of products than they were exporting. This loss in revenues and rise in costs caused a great debt problem in both Mexico and Venezuela. .
This major shift in economic prosperity meant that each government had to take immediate action in order to uphold their economies and maintain the support of the people.
Latin America Latin America is a very diverse region of the world. ... Latin America has immigrants from all around the world. ... The majority of LAtin America is Roman Catholic. Latin America houses more than 517 million people. ... Latin America also has very diverse climates throughout the region. ...
LATIN AMERICAN ISSUES IN CULTURAL PERSPECTIVE MIDTREM EXAM 2 1. ... The colonial period, to an affect, is the turning point of Latin America. ... WHAT ARE THE "CONTINUITIES" PRESENT IN THE POPULATIONS OF LATIN AMERICA? ... When the Spaniards arrive in Latin America, they create a new population. ... Unfortunately because of this fact is that today's Latin American still looks not only to Europe to be taught , but what is worse to the United States who was once a colony just like it was Latin America was . ...
#1: Why is it said that diversity rather than uniformity characterizes Latin Americans? ... #2: Some defining elements in the historical constitution of North American identity have differed greatly from those of Latin American identity. ... In Latin America, however, religion was diffused by force with the purpose of unifying the people. ... Both Palacios and Vasconcelos agree in the necessity to have a synthesis of races in Latin America in order to emphasize and build some foundation for the Latin American culture. They both saw the Latin American culture as playing a prospective...
The causes for the independence movements throughout Latin America during the colonial period were both varied and centralized around specific ideas. ... For the other Latin American countries Spain's influence and presence was not welcomed at all. ... Some of the long-term complaints of the people in Latin America were focused directly on the treatment they received at the hands of the Spainiards. ... The road to the Latin American Revolutions of the 19th century was also varied regionally. ... Without the ensuing revolutions, the people of Latin America would have continued to be "und...
Difference between the Latin-American culture and the American culture Throughout the world there is a variety of cultures so big, that we can even imagine how different they are from each other. ... It is not easy to understand the complex role religion plays within Latin American culture. ... Also the gender roles and expectations is a big thing in the Latin American culture. ... Culturally, people from Latin America are expected to marry and have children with a purpose early in life. ... For whatever reasons, many Latin Americans have been forced to leave their countries to look for ha...
Many factors within colonial Latin America society lead to the independence movements. The largest factor in Latin America that lead to the independence movements was the tension between classes. ... Another reason for the revolutions in Latin America was racial tension. The people born in Europe considered themselves higher than the Europeans born in Latin America, the Creoles. ... The Creoles began to feel like Latin Americans and they started to gain a sense of nationalism. ...
The causes for the independence movements throughout Latin America during the colonial period were both varied and centralized around specific ideas. ... For the other Latin American countries Spain's influence and presence was not welcomed at all. ... Some of the long-term complaints of the people in Latin America were focused directly on the treatment they received at the hands of the Spainiards. ... The road to the Latin American Revolutions of the 19th century was also varied regionally. ... Without the ensuing revolutions, the people of Latin America would have continued to be "und...
Percussion is a very important part of Latin American music. ... There are many major instruments used in Latin American music. ... The bongos are the highest pitched drums in Latin American music. ... The clave rhythm is the key to all African and Latin American music. ... Many other shakers, bells, and rattles are used in Latin American music. ...
However, during this decade, a literary explosion of Latin American literature took place named "The Boom." ... Twenty million Latin American children died before the age of one. ... During the "Boom," widespread interest in Latin American novels grew. ... The Europeans and Americans looked down on Latin America as a third world country. Latin Americans perceived the American investors as capitalistic, self-absorbed and a threat to South American independence. ...
Colonies that are no exception to this are the Latin America colonies. ... Another cause for Latin American independence was the ideas of Enlightment. ... The enlightment strongly changed the ideas of people in Europe, America, and Latin America. ... Therefore, leading to the Latin American uprising of the colonies. ... Other Latin American uprising occurred with Simon Bolivar, who led the South American independence. ...