Commodities Production in Latin America and Caribbean

Consequences on Economic Orientation

The colonization of Latin America and the Caribbean by Europeans continues to play a role in the economies of many nations in the region. This is because these regions basically depend on an export-led economy, a commodities trade economy that originated when Europeans first began exploiting resources in the region (sugar, silver, coffee, etc.). The consequences of such an economic orientation have a direct impact on many aspects of society in these regions, from maintaining the gap between rich and poor to destruction of the environment. So, too, this economic orientation is a major cause for concern in many regions where globalization and a changing economy threaten the very economy itself – like Argentina. Through industrial restructuring and other policy measures, Latin American and Caribbean countries have increased their export capabilities but not without negative consequences in most cases.

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Approximate Word count = 675
Approximate Pages = 3 (250 words per page)