Latin Americas Struggles

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Term Paper Title	Latin Americas Struggles
# of Words	978
# of Pages (250 words per page double spaced)	3.91

Latin America's struggles

[Category]:

Social Issues

[Paper Title]:

Latin AMericass struggle

[Text]:

Latin America’s Struggle

Many countries in Latin America provided their resources to industrialized
countries, which is how Latin America was able to earn the money they needed for
development. Latin America relied too much on foreign markets and goods, and the
money that came into the country went to a very small group of landowners and
business people. Therefore, Latin America has suffered from major poverty. Chile
and Nicaragua are two examples of Latin American countries that have suffered
because of economical and political obstacles.

Chile’s economy relies only on one resource for export. Chile produces a
very large part f the world’s copper. Depending on just one material is
unreliable because unexpected events can always occur. This is exactly what
happened to Chile. Suddenly the price of copper dropped. Since Chile relied on
one source, their economy also dropped.

In 1979 the government tried to steady the economy by using 370 million
dollars for hydroelectric, telecommunication, and iron and steel projects. The
government also tried to expand the forestry industry. Fish and forest products
became important exports. Soon prices began to increase, which was a problem.
The government tried to solve this problem by cutting down on public spending
and searched for foreign investments. An overflow of imports resulted from this
solution. This weakened the National manufacturing. By the 1980s, Chile’s
economy was in serious danger. In 1985, Chile owed 202 billion dollars. This was
the largest foreign debt of all the Latin American countries. Chile urgently
needed foreign currency to pay off all the money they owed. To do this, the
government took severe actions to increase Chile’s exports. There was no
simple way out because copper’s price was still too low.

In 1970, Dr. Salvador Allende Gossens became president of Chile. He was the
first Marxist to be chosen to be leader of a country in the western hemisphere.
A Marxist believed in economic and political theories of Karl Marx. Marx’s
ideas outline the idea of modern communism. During Allende’s presidency, the
government took over many of Chile’s industries. Many foreign investors did
not like Allende as president, so they sent their money to other countries
instead. By 1973,the economy weakened terribly. Strikes took place often and
there were many food shortages.

On September 11th, 1973, a m...

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