The Latin American Debt Crisis Essay

The Latin American Debt Crisis Essay

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The sub-region of the Americas which nations speak Romance languages is a region considered Latin America. The region is very diverse when it comes to people but also the geography and natural resources of its nations. The people and resources of the region combined to an approximated gross domestic product of over US$ 5 trillion today after its discovery in the late 1400s. However, Latin America’s history as a whole was not all pleasant. There were many times in the region’s history filled with adversity, while aspects of the positive cultures that discovered the region permeated into the region some it is negative ideals went in as well. The lack of sound economic ideals and stability of many nations in Latin America can be seen as the reason for many of the issues that plague the region today. One of the most influential events that occurred in the region originated in the late 1970s and early 1980s, the Latin American debt Crisis. This crisis was a financial crisis in which many Latin American nations had their foreign debt exceed their earnings and became unable to pay back the debt leading to a lost decade in the region. However, after the crisis began there were many ways for which a nation dealt with the crisis, while some nations to this day have not fully recovered others have recovered and then started breaking into the world stage as major competitors. Brazil is one of those nations, after the crisis, their ideals helped them become one of the top seven economies in the world.
The Latin American Debt crisis did not occur overnight, the crisis was many years in the making and signs of its arrival were prominent in Latin American society. The reasons for its occurrence are also expansive; some fault can also be placed...

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Smale, Will. "Brazil's Economy Marching to Samba Beat." BBC News. BBC, 01 Aug. 2012.
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"Trade Policy in Brazil." The Economist Intelligence Unit (2011): 1-15. Web.
Watkins, Thayer. "The Economic History of Brazil." The Economic History of Brazil. San Jose
State University, 17 Oct. 2000. Web. 11 March 2014.
"World Economic Outlook Database October 2012." World Economic Outlook Database.
International Monetary Fund, n.d. Web. 11 March 2014.

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