Read “Economic & Social Development” from page #161 in text.

 Students will be able to rank the economic “health” of the countries that make up Latin America.  Students will understand the economic history of Latin America.  Students will determine the impact of trade agreements on the economy of LA.

 According to chart 4.2 from page #161 who had the “highest” GNI per Capita PPP in 1999?  According to chart 4.2 from page #161 who had the “lowest” GNI per Capita PPP in 1999?  Rank from strongest to weakest GNI per Capita PPP  How did your ranking of strongest to weakest economies compare to chart 4.2?

 Many Latin American countries are part of the developing world.  They do not possess a large / reliable middle class. See page #165  Nearly 1/3 of all people in Latin America live on less than $2.00 a day  Source: Textbook

 The “outside” world has had an interest in taking advantage of LA’s economic riches since the first Spanish Conquistadors came searching for gold and other precious metals.

 Some people feel that economic powers like the USA are still trying to take advantage of Latin American countries like Mexico through trade agreements like NAFTA.  Economic Imperialism

 Maquiladoras AND Foreign Investment from page #164 in textbook.

 Mexican factories that line the border with the USA.  Are “American” companies taking advantage of Mexico’s proximity, low wage workers and sometimes lax environmental policies?  Outgrowth of NAFTA

 The United States is the #1 trade partner for Latin American countries.  The European Union is the #2 trade partner for Latin American countries.

 Untaxed and unregulated economic activity.  Makes up a large % of the non agrarian employment of many LA people.  Legal – housing  Illegal – drug trade

 Bolivia  Brazil  Argentina  Ecuador  French Guiana  USA Dollar  Euro  Pesos  Real  Boliviano

 The process by which a country in whole or part adopts the US dollar as its official currency.  Common in many LA countries.  Would an American business accept the peso?

 The phenomenon whereby many immigrants maintain close contact with their home country.  Many immigrants from LA send US dollars to family living back “home”.  Remittance payments

 Students will be able to rank the economic “health” of the countries that make up Latin America.  Students will understand the economic history of Latin America.  Students will determine the impact of trade agreements on the economy of LA.