Chapter 28 Guided Reading Section 3 WHAT SET THE STAGE FOR.pptVIP

Chapter 28 Guided Reading Section 3 WHAT SET THE STAGE FOR ECONOMIC IMPERIALISM IN LATIN AMERICA? Chapter 28 Guided Reading Section 3 “US ECONOMIC IMPERIALISM IN LATIN AMERICA” Most land was controlled by the wealthy AND land was unevenly distributed (most people are landless) Latin America imported European and USA manufactured goods; Latin America exported cash crops; Latin America often had to borrow money to develop facilities (storage, etc.) for their cash crops; DEBT; foreign companies take over when debt unpaid. Chapter 28 Guided Reading Section 3 “US ECONOMIC IMPERIALISM IN LATIN AMERICA” To guarantee freedom of Latin American colonies/countries from European countries’ control; Europe was to “keep out” of the Western Hemisphere. Workers were paid with vouchers instead of money. These vouchers were only valid (useable) at the owners’ supply stores. Prices were too high and debt carried over from one generation to the next. (THE PEONAGE SYSTEM) Chapter 28 Guided Reading Section 3 “US ECONOMIC IMPERIALISM IN LATIN AMERICA” Lands were gained from Spain; Spain had no more colonies; Gaining these territories gave the USA motive to take over other countries (Puerto Rico became a US territory.) Political power was restricted to the upper and educated middle class citizens; Most citizens were unfamiliar with the democratic process after being excluded by Spain from the political process for so long. After independence, political instability leads to military dictatorships (caudillos); Chapter 28 Guided Reading Section 3 “US ECONOMIC IMPERIALISM IN LATIN AMERICA” Workers going into debt; unequal distribution of land; focused on cash crops instead of industrial development. Latin Americans relied on imports from Europe and North America, so they did not develop their own technology and manufacturing; Latin American countries remain unindustrialized; cash crops were main exports for Latin American countries. Chapter 28 Guided Reading Section 3 “US ECO