Wednesday, December 5 th

1. Wednesday, December 5th Read “Economic & Social Development” from page #161 in text.

2. After today… 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.

3. Economic indicators According to chart 4.2 from page #161 who had the “highest” PPP in 1999? According to chart 4.2 from page #161 who had the “lowest” PPP in 1999? Rank from strongest to weakest PPP Go back to Table 4.1 from page #142 and make at least 1 strong connection?

4. Read & Create Read “Development Strategies” and “Industrialization” from pages #161 & 162 in the textbook. Create 5 open ended questions based upon the 2 readings. Make sure YOU are comfortable with the answer. YOU are the teacher! Right There vs Think & Search questions.

5. Read Maquiladoras AND Foreign Investment from page #164 in textbook.

6. Haves & Have Nots… • Many Latin American countries are part of the developing world. • Historical divisions - 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

7. UPDATE Update the numbers from textbook page #161 for all the countries of LA plus the USA. Use CIA Factbook – GDP per capita PPP (2011) Make a bar graph charting the growth for each country from 1999 to 2011. What countries have seen the bset growth???

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

9. NEW Conquistadors??? • 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

10. Maquiladoras • 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

11. Foreign Trade • The United States is the #1 trade partner for Latin American countries. • The European Union is the #2 trade partner for Latin American countries.

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

13. Currency Matching • Bolivia • Brazil • Argentina • Ecuador • French Guiana • USA Dollar • Euro • Pesos • Real • Boliviano

14. Dollarization • 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?

15. Trans-nationalism • The phenomenon where many immigrants choose to maintain close contact with their home country. • Many immigrants from LA send US dollars to family living back “home”. • Remittance payments

16. How do YOU develop the Amazon??? • Many countries in Latin America have begun to develop modern, diverse, and growing economies. • The governments of these countries must be responsible stewards of these growing economies.

17. After today… 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.