1. Latin America Post- Great Depression: LA economies more self-sufficient Very reliant on world prices for raw materials Dependents on American business investment Post- Great Depression: LA economies more self-sufficient Very reliant on world prices for raw materials Dependents on American business investment

2. Latin American Economies Dictatorial regimes encouraged Multinational corporations: companies w/ divisions in more than two countries Increased dependence on industrialized nations LA countries began borrowing money – Debt grew, economies crumbled, LA nations unable to make payments (even on interest) – Help from World Bank – only w/ reforms in country Economic problems led to call for democracy

3. Latin American Politics American business investment in LA led to intervention in LA political affairs 1948 – Organization of American States (OAS) formed: emphasized need for LA independence U.S. closely watched LA > fear of communism Provided massive amounts of military aid to anti-communist regimes (even backed dictatorships) Dictators took power during times of worker unrest – Dictators had support from military & conservative elites

4. Latin American Politics (cont.) Economic crisis led to demand for democracy – Military leader felt no need to deal w/ debt problem – Dictators needed popular support to create a strong state New democracies faced tough challenges – Weakened economies – Strong drug trade

5. Latin American Society Latin Americans economies hurt by rapid population growth (tripled 1950-1980) Poverty drives poor villagers to cities Megacities: grown so fast that housing, water supplies, and schools cannot keep up – Residents live in favelas (shantytowns) – Huge gap rich to poor

6. Latin American Culture LA writers & artists been granted high public status b/c they can express the hopes of the people & their criticisms of the gov’t Literature – magic realism: merging of realistic events w/ dreamlike or fantastic backgrounds Art – abstract forms dominated