Improvement of the Political and Economic Situation of Latin America

248). The exchange between Latin America and the industrialized world did not flow unless towards the latter; manufactured goods from europium and the United States were imported into Latin America at increasing rates, while private coronation in Latin America also grew. British investment, for example, went from 85 million pounds sterling in 1870 to 757 million pounds in 1913; by the end of that time period British investors owned or so two-thirds of the total external investment in Latin America. The downside of this foreign investment was that foreign interests controlled key sectors of Latin economies (Skidmore, 1984, pp. 47-48).

Most Latin American countries obtained their independence during the 19th Century; the strongest influences during this period of nation-building were those of the American revolutionary/constitutional period and the French Enlightenment. Independence, however, only meant that military unit passed from the colonial governors to the large landowners. Leaders in the new countries consisted of individuals who attracted back off through personal magnetism rather than through whatsoever civic-minded ideas, as in the United States or western Europe (Harris & Alba, 1974, pp. 22-25). Eventually, policy-making parties grew up around personalities. This personalism has persisted up to the present time; as a result, the kind of democracy practiced in Latin America has

In 1982, however, the military sealed its fate when it invaded the Falkland Islands (known as the Malvinas by the Argentines), arouse the small contingent of British Royal Marines on the islands and declaring the house physician British subjects to now be Argentine subjects. While the putsch briefly united the Argentine people in a wave of patriotism, it also united the British in an springtime of angry patriotism. In the end the Argentine troops were no match for the better trained and more experienced British troops and the Argentine public was shocked when the Argentine units surrendered to the small British expeditionary force.

Confidence in the generals as political leaders disappeared with the military defeat; the air force and dark blue withdrew from the ruling junta and the remaining army officers promised elections in the neighboring year (Skidmore, 1984, pp. 109-112).

In the early 1990s, most countries in Latin America were moving towards embracing open capitalism. Even primaeval American countries were privatizing state enterprises in an effort to revitalize their economies through national and foreign investment (Bermudez, 1992). Among the largest foreign investors in of import America have been companies headquartered in the four Asian "tigers:" south-central Korea, Singapore, Taiwan, and Hong Kong. The main countries which have been targeted for investment are Honduras, Guatemala, Costa Rica, and Panama. mingled with November of 1989 and May 1991 79 Korean manufacturers invested $82 million in plant and equipment in Central America, constructing 18 new factories (Millman, 1991). to the south American countries have also been making extensive efforts to denationalize national enterprises, although there has been considerable resistance from the entrenched bureaucracies which had pass on the enterprises previously. Foreign investors have also been wary of continuing economical problems in most of the South American countries, fearful of committing also much capital to what may eventu
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