How Were The Economies Of Latin America And European Countries Connected By Trade?

How did Europe influence Latin America?

Europe brought metal supplies, livestock (horses, pigs, cattle), fruit, grains, sugarcane and coffee. The Americas provided sweet potatoes, potatoes, pumpkins, corn, turkeys, peanuts and pineapples. When the Europeans came to Latin America they forced away the native language of people that lived in Latin America.

What effect did Latin America’s reliance of trade with the West have on the region’s economy?

The effect that Latin America’s reliance of trade with the West have on the region’s economy was that it brought about exploitation by wealthier Europeans. Latin America was heavily reliant on trading with the West and this created an avenue for wealthy Europeans to exploit Latin America.

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What did Latin American economies depend on?

The Latin American economy is largely based on commodity exports, therefore, the global price of commodities has a significant effect on the growth of Latin American economies.

What economic impact did the Latin American wars for independence have on the region?

The economic impact that the Latin American wars for independence had on the region was “the destruction of infrastructure and the loss of skilled labor caused economic decline throughout the region.” Most of the wars of independence in Latin American left sequels and conditions that were difficult to overcome.

Why is Latin America important to America?

Latin America is the largest foreign supplier of oil to the United States and its fastest-growing trading partner, as well as the largest source of drugs and U.S. immigrants, both documented and otherwise, all of which underline the continually evolving relationship between the country and region.

How did Spain and Portugal influence Latin America?

Language• As the Spanish and Portuguese conquered indigenous people, they spread their language. The Spanish language is still in use in the lands claimed and ruled by Spain. This includes most of Central and South America as well as the Caribbean Islands. Portuguese is the official language of Brazil.

Why is Latin America not developed?

Steep mountains and tropical forests made land transport difficult to impossible. This led to the fragmentation of the Spanish New World empire into many, mostly relatively small countries and hindered the development of trade both between and within countries.

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How did an increase in exports Change Latin America after 1870?

After 1870, Latin America was able to export several basic items. Industrialization increased and the middle sectors of the Latin American society bubbled.

Why did Latin American countries remain economic colonies of Western nations?

The main reason why Latin American countries remained economically dependent on western nations is because the Industrial Revolution led these western nations to requires massive amount of raw materials, many of which were exported from Latin America meaning Latin America found it difficult to develop other trades.

What country in Latin America has the best economy?

Uruguay, like Argentina and Australia, had one of the world’s richest economies due to its rich agricultural endowment. The economy of Uruguay has been free since the 1990s. GDP growth for the last few years has been moderate but stable, making Uruguay one of the strongest economies in Latin America.

What is the wealthiest country in Latin America?

List of Latin American and Caribbean countries by GDP (PPP)

Rank Country GDP (PPP) per capita (Intl$)
1 Chile 27,059
2 Mexico 21,412
3 Argentina 20,482
4 Brazil 16,727


Who has the biggest economy in Latin America?

Brazil and Mexico were the countries with the largest gross domestic product ( GDP) in Latin America and the Caribbean in 2020.

GDP in billion U.S. dollars
Brazil 1,434.08
Mexico 1,076.16
Argentina 388.28
Colombia 271.46

Why did America support the Latin American countries in their fight for independence?

Why did America support the Latin American countries in their fight for independence? America supported them bc Simon Bolivar and other Latin American leaders were inspired by the example of the US. The purpose of the Monroe Doctrine is to prevent European powers from interfering with America’s political affairs.

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Which two factors led to Latin American revolutions?

Two factors that led to Latin American revolutions were the successful French Revolution and the successful Spanish Revolution. The American Revolutionary War also served as a source of inspiration to many Latin American nations.

What was the result of the Latin American revolution?

These revolutions followed the American and French Revolutions, which had profound effects on the Spanish, Portuguese, and French colonies in the Americas. The outcome in Spanish America was that most of the region achieved political independence and instigated the creation of sovereign nations.

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