Building Economies

1
Building Economies
2
Caribbean Islands

• Sugar plantations colonies traded with ruling
  countries
• So focused on sugar they had to buy food from
  other countries
• A country that depends on just one product for
  all its jobs and money is called a single-product
  economy -can be unstable

3
Economies must change

• Islanders decided to diversify their economies,
  investing in a variety of industries/other crops
• One of the most important - tourism

4
Cuba

• Collapse of Soviet Union in 1991, Cuba has
  struggled
• Used to trade oil, grain, and machinery with Cuba
• Cubas most important product sugar
• Economy controlled by govt

5
Central America

• C.A. countries started developing exports like
  coffee
• U.S. became involved United Fruit Company
• Set up huge banana plantations in hot, wet
  lowlands of C. America
• Too dependent on these two items had to
  diversify

6
Guatemala

• Fastest growing economy
• Agriculture, mainly coffee, employs more than
  half of the work force also nontraditional
  agriculture (cut flowers and winter fruits)
• Also manufacturing of food, beverages, and
  clothing
• U.S. is biggest importer of products from
  Guatemala
• Strong tourism Mayan ruins

7
South America

• Products and Industries
• Mineral resources
• Agricultural products (beef, grain, sugar, wool,
  bananas, coffee)
• Manufacturing (cars, computers, textiles)
• 1994 Free Trade Zone established people and
  goods can travel across borders without being
  taxed
• Economic indicators are statistics that show how
  a countrys economy is doing

8
Brazil

• Largest country in S. America largest
  population
• Government influences industry automobile
• Second only to the U.S. in exporting crops more
  coffee than any other country
• Unemployment and inflation has led to much
  poverty
• Inflation general increase in the price of
  goods or services