Uruguay is one of the most economically developed countries in Latin America, with a high GDP per capita and ranks 47th for quality of life in the world (“Uruguay”). It is also regarded as a high-income country by the United Nations.
Uruguay’s economy has had a great past year and consumption is expected to grow 1% in 2017 (Haring 2017). Looking at the current state of the economy in Uruguay, 7.3% are unemployed in a population of 3.4 million, a change of -6.65 % from the previous year. It also recorded the record lowest unemployment levels in 2014 at 6.6% (worldbank.org). Even so, it has the largest middle class in Latin America, and all of America, representing 60% of its population with lower wages than fully developed countries (worldbank.org).
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In 2013, the GDP reached an all-time high of 57.53 USD Billion (TE). Services account for providing the highest GDP for the country at 62% (nationsencyclopedia). Trade is a moderately important factor in the economy. Combined, imports and exports make up 45 percent of the country’s GDP. The major imports of Uruguay include Crude Petroleum, Electric Generating Sets, Cars, Broadcasting Equipment and Delivery Trucks. Major exports include frozen bovine meat, soybeans, concentrated milk, bovine meat, and wood. In regards to taxes, the average applied tariff rate on imports and exports is 4.7 percent (). The top individual income tax rate is 30 percent, and the top corporate tax rate is 25 percent. Government spending has amounted to 31.9 percent of total output (GDP) over the past three years, and budget deficits have averaged 3.1 percent of GDP. Public debt is equivalent to 61.8 percent of GDP. Major import partners of Uruguay include Brazil, China, Argentina, the US, and Germany. Some major export trade partners are Brazil (20 percent of total GDP), China (7 percent), the United States, Argentina (8 percent), and the Netherlands (atlas). Brazil and Uruguay are neighboring countries and have a bilateral relationship. Brazil is an integral part of Uruguay’s economy and is affected greatly by the ups and downs of their economy. In regards to economic freedom, this country is a moderately
The depression in the 1930’s in the country of Argentina was one of the most devastating internationally. In 1929, Argentina had the fourth highest gross domestic product; however a few short months later, this would no longer be considered the case. Considering that the economy heavily depended on foreign trade for daily essential produces, the economy was deficient of vital goods and thus lacked important industry. Mainly dependent on the foreign capital from Great Britain at the time, domestic industry was severely affected by the market crash due to the halt of British domestic capital investment. Through the Domino Effect, mass and widespread unemployment was a major and constant theme in the Argentinian culture at the time. This further affected the government revenue dropped significantly as the export of the country faulted investment and imports were decreased exponentially due to the international depression. As a result of the decline in national revenue, grand deficits began to appear. To repair the shortage of the countries’ profits, the government began to borrow mo...
Major places like Peru Ecuador. And Bolivia have major industries such as food processing, mining, wood products, textiles, petroleum, and more. Their major agricultural products would be cacao, balsa wood, shrimp, cotton, sugarcane, and more. (Doc B)Some more major places in South America in South America like Chile and Argentina make most of the country's gross domestic product (GDP) and employ over half of the population. They produce grains, fruits such as grapes, and beef cattle, (Doc C) South Americas history many interesting types of civilizations like Aztec of around A.D. 1200- A.D 1521. (Doc 1) South America has some amazing features but also has a downside. From the 1950’s to now more people live in urban areas rather than rural areas unlike 1950 with most of the population living in rural areas. (Doc D) Today in Brazil, one of the largest economies in the world, there is a very large gap between the rich and the poor. Government is trying to build a bridge between the gap but this is hard knowing that 2% of the population are higher class. (Doc E) Around the Amazon River there is forest. But deforestation is making all this go away based on a survey taken in 2000-2005, Most of it is caused by Cattle Ranches. About 35% is taken up by small-scale, subsistence agriculture, The rest taken up by fires, urbanization construction, logging and large scale commercial agriculture. (Doc
middle of paper ... ... on. As improvements of these economic systems continue to be made, the situation of the Latin American people also continues to improve, hopefully ensuring a brighter future for the entire region. Works Cited Delpar, Helen.
The working conditions in the Maquiladoras endanger workers. Women workers are denied access to social, maternity, and health benefits (Woman’s Labor). Woman are at a disadvantage if they get pregnant. There are no benefits for these workers to fall back on, as soon as they get pregnant they are fired because the factory managers do not want to pay a medical leave. In such cases, workers can easily be replaced and there are dramatic changes in employment for families. “Government oversight is poor. There are not enough inspectors. There is no obligatory inspection scheme, only a voluntary one, and inspections are arranged in advance, with no surprise visits” (Godoy). No inspections of the maquiladora work environment leaves room for factories to have no responsibility on keeping the work environment safe. The factories try to cover up the bad conditions by arranging inspections. There are no safety standards for the employees which leads to a dangerous work space. Workers receive $3.40 an hour, not enough to support a family (Shah). The pay received by workers is low, lower then minimum wage resulting i...
Since the 1970s, Venezuela has gone from being South America’s richest nation into a nouveau-poor society in search of an identity. Once known as the Saudis of the West, Venezuelans have seen their economic fortunes decline in exact proportion to the general fall in world oil prices. Even so, Venezuela’s many problems were hidden from view until relatively recently, when severity measures heralded the sort of economic crises so painfully familiar to other Latin American countries. Runaway inflation, currency devaluations and even food riots have marked this new phase in Venezuelan history, to which the country is still trying to adjust.
The economy of Latin American countries such as Argentina have often focused on only one main product at a time and imported many of the other products needed. Argentina especially followed this economic strategy in the late 1800’s. Latin American countries focus on one product it does well and does not stray from that product. The countries were just following trends and taking advantage of what the market dictates is a worthwhile product. This strategy can fall short of having long-term success and lead to a land of poverty. This was the case in most every country in Latin America, and all the economy revolved around the growth of industry in each country. Technology, increased immigration, European influence, and political policy all influenced the economic state of Latin American countries and led to economic struggles.
BOLIVIAN PARADISE Bolivia is an amazing country that is breathtaking and is similar to a paradise. Bolivia is an interesting country that practices an interesting style of living. Locals always have plenty to do. They can go out for pizza, go see movies, or simply sit and talk.
In this report I will give a brief overview of the history, economy and culture of Bolivia. Bolivia was one of the first countries in the Spanish Empire to attempt a break from Spain, but it was one of the last to succeed. The Spanish suppressed the first critical rebellion in May 1809. Bolivia declared its independence from Spain on August 6, 1825, and took the name Bolivia in honor of South American independence leader Simón Bolívar. In 1826 a congress adopted a constitution drafted by Bolívar. It vested supreme authority in a president, who was chosen for a life term.
Uruguay republic, in east central South America, is the second smallest country on the continent. This country is bounded on the north by Brazil, on the east by Brazil and the Atlantic Ocean, on the south by the Atlantic Ocean and the Río de la Plata, and on the west by Argentina. The Uruguay River forms Uruguay's western boundary in full. Uruguay's land mass in whole is a small 176,215 sq km. Uruguay's capital city is Montevideo which is the main port, and economic center of the country. The currency of Uruguay is the peso uruguayos (7.97 peso uruguayos equal U.S.$1). This country's main sport entertainment is soccer.
“Capitalism is a world system. But some of its parts have more than their share of leadership.”(Cardoso xxi). Latin America, like much of the third and second world has received far lesser dividends from the fruits of capitalism. In fact due to its close geographic location to the united states and its strong early history of colonialism Latin America is a shining example of how economic dependency has evolved. From its moment liberation Latin America has been seen as a economic tool by the west, particularly by the USA, and continues to be economically dominated to this day. From the Eve of conquest the region has used its economic power mostly to the benefit of another nation.
One of the benefits of globalization on a social level is an increased Human Development Index. The Human Development Index is a measurement of a country's social, political, and economical growth in comparison to other countries in the world. The Human Development Index rates each country with a score between 0 and 1, with 1 being the most advanced, globalized country. Factors that are involved in determining a country's HDI are gross domestic production per capita, life expectancy at birth, adult literary, and the number of persons enrolled in educational institutions. In 1975, Peru's Human Development Index was a 0.643. By 2003, the Human Development Index had risen more than one tenth to 0.762. The substantial increase of Peru's HDI is a clear indication that globalization has made a positive impact. From 1975 until 2003, globalization has caused a 2% increase in the adult literacy rate. During the same time period, the poverty rate to dropped 6%. Women's fertility rates have also dropped. In 1975, women had an average of 6 children each. In 2003, that average dropped to less than 3 children per woman. (Genovese 457-8) When fertility rates drop in developing countries, such as Peru, it is usually an indication that there is an increase in women's liberation. Women are no longer facing as much social pressure to have lots of children and stay home to raise them. By having fewer children, women are exposed to more opportunities for employment. The role of women as housewives and domestic servants is rapidly changing. Women in Peru have begun to experience liberation and equality, mostly due to the spread of globalization. (Bowman 551-59)
Colombia is one of the oldest democracies in Latin America with solid functioning institutions, progressive laws, an active civil society, and one of the most ecologically diverse countries in the world. Economically speaking, Colombia has had a surprisingly turnaround over the past decade due to the confidence and business opportunities that the investors have found in its emerging market. However, the improvements made in the economy are not sufficient to ensure sustainable economic development. On May 15, 2012, the U.S.-Colombia Free Trade Agreement (FTA) went into effect, and after almost two years its effects have had a negative impact in Colombia’s economy, mainly in its agricultural sector, which constitutes 11.5% of the country’s GDP (Cámara Colombo Coreana). The farmers complain that cheap imports from the United States are hurting their sector leaving some of them almost in bankruptcy. During August and September 2013, the country was in a nationwide strike against the Free Trade Agreement, which had different areas of the country paralyzed specially in Bogota, the capital city.
For the first time, a decade of strong economic growth within the region saw employment increase and wage inequality drop, contributing to an unprecedented reduction in poverty and an increase in prosperity for all levels of society. Around 80 million people in the region still live in extreme poverty of whom half are in Brazil and Mexico, with a further 40% of Latin Americans at risk of falling back into poverty in the event of economic shocks or due to the effects of climate change on the region. Consequently, with global tides changing and favorable economic winds subsiding, Latin America faces a big challenge. Even if current levels of growth were maintained, the report warns it would take 41 years to the region to close the gap in wage inequality with top global performers, missing the 2030 target by 24 years. And the picture gets yet more complex when looked at a subnational level (states and provinces), where standards of living differ significantly depending on where in the country you live and your level of education. Today, some countries in the region are now focusing on reducing this gap. But while the report recognizes the gains, it reinforces a need for second-generation reforms to underpin what it describes as “the virtuous cycle” of economic growth and reforms to foster shared
There was a lot that went wrong with my groups film. We started off with only three group members. I can’t say that the small group was the cause of all our issues because some great films have been made with tiny crews. If anything it was the people within the group (including me) that were the problem.