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Phase 1: Initiation of export-import growth, 1880-1900
Because of the industrialisation in Europe, British labours needed to purchase food they could no longer cultivate. And captains of industry were seeking raw materials, particularly minerals. They therefore looked abroad to Latin America amongst others.
Argentina had vast and fertile pampas and became a major producer of agriculture and pastoral goods : wool, wheat and beef fx. Chile resuscitated the copper industry. Brazil and Colombia produced coffee. Cuba produced coffee, sugar and tobacco. Mexico exported a variety of raw material goods, such as henequin (a fibre used for making rope), sugar, copper and zinc. Central America exported coffee and bananas. Peru produced sugar and silver.
Latin America began the import of manufactured goods especially from Europe. They bought textiles, machines, luxury items in relatively large quantity.
Between 1870 to 1913 Britain increased their investment in Latin America......
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Title: Modern Latin America
Approximate Word Count: 876
Approximate Pages: 4 (250 words per double-spaced page)
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Modern Latin America
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