Economic Overview of Selected Latin American Countries | GEOG 2340, Study notes of Geography

Download Economic Overview of Selected Latin American Countries | GEOG 2340 and more Study notes Geography in PDF only on Docsity! gy Throughout Latin America, people persist in asking "What [their] country can do for them, NOT what they can do for their country.” ECONOMIC OVERVIEW OF SELECTED LATIN AMERICAN COUNTRIES, 2005 Overall Latin American unemployment stands between 10 and 15% and. poverty averages 43%. Some say capitalism is the problem: many jobs are small, off-the-books ventures like auto repair shops and food kiosks. Mexico Free-market economy, now in trillion-dollar class 3.7% (May 20-usually underreported) unemployment 44.3% (June) below poverty line Colombia Engaged in rebel conflict; ecanomy in recovery 11.8% (July) unemployment 40% (2003) below poverty line Venezuela Oil profits remain 1/3 of GDP and 80% of export value 11.5% (Sept.) unemployment 47% (1998) below poverty line Peru Pres. Alejandro Toledo is unpopular despite stronger economy 9.4% (Sept.) unemployment 54% (2000) below poverty line Brazil targest economy in South America 9.6% (Sept.) unemployment 22% (1998) below poverty line } Chile Signed free-trade agreeméht with U.S. (2004) 12% (May 20) unemployment 44.3% (June) below poverty line Argentina Suffers from inflation, external debt, capital flight, and buciget deficits 12% (May 20) unemployment 44.3% (une) below poverty line Soiirces: Governmental statistical offices; CIA Factbook 2005; LatinFocus 2005 . i