Effects Of Economic Development On A Nation - 1511 Words

Erik Thomas Matheny/Sprague LA/SS per3/4 April 3rd, 2015 Trick of the Trade The causes of economic development in a nation can vary, but popular arguments for their success is the geographical location of that nation, and their amount of natural resources. The broadening of economic wealth for a nation could lead to many outcomes, such as conflict, shifts in power, or a complete transfer in political ideology. From the late 1880’s through the 1920’s there was an exponential jump in the economic growth of Latin America. This spike was the result of the harvesting of Latin America s immense agricultural resources that were exported to many nations. Latin America s massive development of economic trade precisely compelled a liberal ideology among the nation and lead to internal conflict, power shift in social classes, and political reformation. In order for Latin America, or any population to export/trade, there needs to be a demand for the product and enough of the products to maintain a substantial flow of income. Europe was industrializing at t his time and needed resources from Latin American countries. Southern Honduras produced mass amounts of cotton which induced flourishing export markets. Honduran investors had the opportunity to establish financial relationships with sugar and beef exporters in the Northern part of Cortez because of their country’s new strong economic reputation (Reinterpreting the Banana Republic). Venezuela and Mexico were big producers of oil,Show MoreRelatedHow Globalization Affects Developing Countries?1504 Words   |  7 Pagesof global communications due to technological advancements, and socioeconomic, political and environmental developments. 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