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Essay / Research Paper Abstract
A 10 page discussion of the ever-rising foreign debt in these Latin American countries. Provides the historical background which resulted in this debt and contends that the solution would entail a revamping in the relationships between import and export. Mexico, Brazil and Argentina alike need to restructure their economic pursuits in a manner which makes them less dependent on imports into their country and more dependent on exports out. Provides three graphs detailing the rising debt in each country between 1977 and 1997. Bibliography lists 11 sources.
Page Count:
10 pages (~225 words per page)
File: AM2_PPlatDbt.rtf
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Unformatted sample text from the term paper:
debt has been a significant problem in Latin America practically since colonial days. Argentina, Brazil, and Mexico all illustrate this problem. With the arrival of the European colonist
to Latin America and the establishment of the encomienda and other economic systems, Latin American agrarian production, and indeed the manufacture of other products, became geared more toward export to
Spain and Portugal. With the end of colonization the new nations entered a new phase of their economic lives. When the colonial bond were broken, however, the long
established patterns of an emphasis on the export of raw materials and an import of more finished goods was maintained for Mexico, Brazil, and Argentina alike. As in many
cases when such a scenario is in play, these countries began to build up an extraordinary foreign debt. The solution to that debt is obviously a revamping in the
relationships between import and export. Mexico, Brazil and Argentina alike need to restructure their economic pursuits in a manner which makes them less dependent on imports into their country
and more dependent on exports out. With the Peninsular War during which Spain, along with the English and Portuguese, was preoccupied with its
battles on the home front driving the French from the country the American colonies began to revolt from her colonial authority. Brazil revolted from Portugal as well. By
1825 all of the American colonies, with the exception of Cuba and Puerto Rico, had declared their independence from colonial rule. The Latin American countries began a long and
sometimes complicated transition from an economy which was geared primarily to sustain Spain, to an economy which would allow them to prosper as stand-alone independent nations. The problems with
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