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186 Cards in this Set
- Front
- Back
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How many Latin Americans are billionaires? |
113. |
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How many Latin Americans live in poverty |
164 million |
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Who is Carlos Slim? |
He is a telecommunications tycoon based in Mexico, whose annual earnings could pay the wages of 440,000 Mexicans. |
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Columbus' Second Journey |
By his second journey in 1495, Columbus was desperate to pay his Spanish financiers. Indigenous people were forced to bring him gold as tribute, those who failed or refused were hunted down with dogs or murdered on the spot/mutilated. |
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Cortes and the Aztecs |
Cortes captured and subdued the Aztec nation, he and his army killed approximately a quarter of a million Aztecs. |
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Bartolme de las Casas |
He estimated that 50 million people died in the first 50 years of european colonisation |
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How much of the native population was wiped out in 150 years? |
90% - many caused by illnesses that the indigenous people had little resistance to such as influenza, measles and small pox. |
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What did Conquistador Pedro Alvarado do in Guatemala in 1524? |
He claimed the land from the native Mayan population, conducting a series of massacres and rewarding his soldiers with the right to enslave survivors. |
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What is the common work pattern of Mayans in today's society? |
They work as subsistence farmers for 9 months and as migrant labourers on the sugar or cotton plantations on the pacific coast. |
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What proportion of Mayan children are malnourished? |
Two-thirds - 60% of Guatemala's population are Mayan. |
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What did a report in the 1980's by the head of the UN institute for Nutrition in Central America say about the current situation of Mayans? |
It argued that they were better fed 500 years ago than they are today. |
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What were the Spanish and Portuguese' plans for Latin America? |
They were not interested in settlement. They focused on extraction of raw and agricultural materials. Labour intensive work was carried out on large scale land holdings. |
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What was the issue with indigenous labour in Brazil? |
In the Brazilian state of Minas Gerais, the indigenous population was decimated through overwork and disease - slavers turned to African labour. |
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What was the focus of the Spanish and Portuguese plantations in Brazil? |
They were focused on commercial production of cash crops (most importantly: tobacco, sugar, and coffee) for export. After slavery was abolished the manumitted slaves had no land to call their own so they moved seamlessly from slavery to peasantry. |
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What has globalisation resulted in? |
The increased flow of goods, services, economic stocks, political activity and information around the world. |
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What do O'Brien and Williams argue are the tow significant changes in Western Europe from the 13th to the 15th Century? |
Increased economic activity and integration across Europe and the emergence of nation states and the consolidation of political authority. |
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How does divide and rule work? |
Divide and rule was a central principle of british imperial policy for more than two centuries. By keeping different ethnic groups segregated, and allowing them to squabble among themselves, the ideas was they would be too tired to overthrow their colonial masters. |
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What did Chibber (2005) say about colonial investment? |
He argued that until relatively late in their colonial history, colonial states had a poor record of investment. With barely a tenth of total British overseas investment in the victorian era going to non-white colonies. |
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What was the per capita income increase in 190 years of british rule in india? (Davis, 2001) |
None |
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John Stuart Mill |
He worked for the British East India Company in colonial india and argued that health, education and governance improved under british rule. Crucial for mill was the argument that the introduction of market economics, namely capitalism, could only be a good thing. |
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British railway construction in India |
It was constructed by Indians under conditions of virtual slavery. The purpose was to export raw materials back to Britain and import manufactured goods back in, not to help the populace. |
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What does Frankenburg say about race? |
Race raises the idea of difference, for race is above all a marker of difference, an axis of differentiation. |
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What does wade argue about ethnicity? |
He argues that ethnicity is properly used to refer to those groups which are considered minorities within larger nations, and to cultural differences rather than perceived biological differences. |
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What was the colonial opinion of indigenous populations? |
They were considered to be naive, backwards and sinful. Colonisation was done by advanced and upstanding Christian Europeans who were helping them by making their lands civilised like europe. |
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What was the fate of freed slaves in Brazil? |
They were not welcomed as equal members of society. They became the poorest in society. 40 years later in the 920's and 30's the black population was still to occupy the poorest layers of society. |
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Brazils feeling towards black people. |
After its independence in 1822 Brazil felt ashamed of its black population and started taking measures to whiten its country, this led to mass immigration from italy, germany and from a lesser extent, japan. However beginning with the modernist art movement in the 1920's and 30's brazils shame at not being white anough was changed to pride. |
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Gilberto Freyre |
He argued in his book 'The masters and the slaves' that slaves had been well treated and were willing to treat their masters. |
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Jose Vasconcelos |
Mixing all the races together would lead to a new cosmic race that combined the best of all. |
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What % of the wages of white people do men and women of african descent earn in brazil? |
45 |
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What percentage of households have sewerage in Guatemala, Bolivia and Brazil? |
-50% by white men and women -30% by indigenous men -37% by indigenous women |
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What are the levels of access to sewerage by ethnicity in Brazil? |
50% of households headed by white women have sewerage, 40.5% of non-white males and 45.1% of non-white females. |
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Who are the Gauchos? |
They are farmers from the predominately white southern state of Rio grande do sul. They were encouraged by the Brazilian government to travel north into the Amazon and develop the region. They argue that Brazil is doing nothing different to what western countries have done to their forests and it is hypocritical to complain. |
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Who are the Nordestinos? |
They are the rural poor from the northeast of brazil, they are predominately mixed-race and have moved into the amazon in search of land. Those who don't migrate to the city have moved into the amazon to start small farms |
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Brazils indigenous pop |
They require unspoilt forest to continue living according to tradition and culture. They have been gradually pushed further and further back into the forest, or have been forced to change their ways of life to survive in the modern brazil. |
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What are vice-royalities and when did they occur? |
They were created to put a lid on dissent of Spanish rule in Latin America. They were ruled by viceroys who had power to rule by decree but were subordinate to the king in spain. |
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Karl Marx and imperialism |
He recognised that imperialism was about the export of capital and this expansion of capitalism increasingly led the the uniformity around the world. Through the 19th and 20th centuries, Latin America became a capitalist, export oriented centre of industrialisation, following patterns put in place by European nations and the USA. |
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What is the legacy of the colonial system? (example) |
A growing concentration, wealth and power in the hands of a minority, leaving the vast majority of the rural peasantry with little or no land on which to survive. This was exacerbated by US companies such as chiquita which set up banana enclaves in Central america and the caribbean. |
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What was the initial purpose of the IMF and World Bank? |
They were founded by the victorious nations at the end of WW2 to help economies damaged by the war recover. Soon their mission became to modernise and develop the economies of the third world. Modernisation theory is a linear model that believes the 'rest follows the west' |
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What are Rostow's stages of economic growth? |
1) Traditional society - limited tech, static society 2) Preconditions for take-off - commercial exploitation of agriculture and extractive industry 3) Take-off - development of manufacturing 4) Drive to maturity - development of wider industrial and commercial base. 5) High mass consumption |
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What do Prebisch, Henrique and Furtado believe is the real reason for poverty in latin america? |
They were dissatisfied that countries were poor because of a lack of modernisation. They argued that this blamed Latin America countries for their won poverty, when instead they argued that Latin America was poor because of it relationship with richer countries in the 1960s and 70s |
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What is dependency theory? |
It drew on the work of frank, he developed the theory that the world is organised into a world system which relies on a powerful centre and subordinate periphery. |
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How did frank argue richer countries acquired wealth? |
He argued that rich colonial powers acquired wealth through exploiting weaker 'satellite' countries. The satellite countries supply cheap primary commodities to rich countries. The rich countries use raw materials to produce relatively expensive manufactured goods, which are sold back to the peripheral countries. Frank saw this not as trade but as a form of theft, and that this theft was encouraged through the policies of the world bank and the IMF and through the activities of MNCs |
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What are the implications of dependency theory? |
Poverty is not a result of misfortune it is a necessity if rich countries are to continue becoming wealthier. Frank argued that poorer countries experience their greatest economic development if and when their ties to the metropolis are weakest. Poorer countries face a choice between following the rich and remaining in poverty or breaking free in socialist revolution. |
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Critique of dependency theory |
It tends to overlook social and cultural variation with the 'core' and 'periphery', even when we add Wallersteins idea of the semi-periphery. It focuses too much on the economy and not enough on other factors like politics and assumes that socialism is the only alternative. It also claims that it is possible to de-link countries from the world system. |
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Binns (1994) |
The colonial period was a relatively brief interlude in african history yet its impact was profound. |
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What were the 18th C ideas on enlightenment centred on? |
Making a more efficient and orderly use of land. Improvement meant new infrastructure, increased economic outputs, medical research to prevent health degeneration and European population increase. The improvement was oriented towards the imperial core and benefited settlers more than locals. |
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1929 Colonial development act |
First formalised development policy for the colonies, but still also about economic benefits for Britain. |
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1940 Colonial development and welfare act |
Increased intervention, investment and scale of projects. |
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Kariba Dam (Northern and Southern Rhodesia) |
Constructed between 1955 and 1960, late colonial development project, large scale hydroelectric dam across the zambezi. It was on a grand scale with modern aesthetic and techniques. |
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About the Commonwealth |
53 nations, combined GDP of $8.3 trillion and a 3.7% annual growth rate. Population increase of 825m (60%) by 2050. |
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Barclays expansion |
12 to 62 branches between 1952 and 1962. |
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Countries receiving aid |
78 received bilateral assistance, 36 received financial aid, most of aid money spent within commonwealth countries, (2,700 employees, half in UK HQs half overseas. |
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MDGs (UN, 2000) |
End poverty and hunger, universal education, gender equality, child health, maternal health, combat HIV/AIDS, environmental sustainability and global partnership. |
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WCED |
'Sustainable seeks to meet the needs and aspirations of the present without comprising the ability to meet those of the future' WCED objectives - Reviving growth to 3%, ensuring a sustainable level of population, changing the quality of growth, meeting essential human needs, conserving and enhancing the resource base, re-orientating technology and managing risk and merging environment and economics in decisions |
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1992 UN Earth Summit Rio |
'The right to development must be fulfilled so at to equitably meet development and environmental needs of the present and future generations' |
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UN Convention on the rights of the child |
Ratified in 172 countries by 1989, but not USA or Somalia. It establishes basic human rights for the child such as the right to survival, to develop to the fullest, to protection from harmful influences and to participate fully in family, cultural and social life. |
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MDGs and children in africa (water transport) |
Collecting water is work of women and children (under reported, invisible) Quantitative questionnaire (1504 children aged 9 to 18 years). Qualitative data collection by adult and young researchers: interviews, diaries, photography, FGDs, accompanied walks). Data was collected between October 2006 and November 2008. 12 field sites - 4 in each region (remote rural, rural with services, peri-urban and high-density low-income urban) 60% of girls and 53% of boys report water as the heaviest load they routinely carry. 1 in 3 children report health impacts such as headaches and neckacke (26%). 10% of girls and 6% of boys are late/absent from school as a result. |
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How many females are 'missing' since 2008? |
4m |
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GDI |
Measures gender disparities in 3 human development index variables (LE, literacy/education and GDP). However it is heavily affected by HDI so wealthy countries so well, and it glosses over disparities between components. GEM variables are not relevant to all women. Both GDI and GEM are undermined by a lack of data make measures more complex and useful. Also ideas of 'progress' are subjective and context dependent, e.g. earnings, double burden and contraception. |
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When/where, were the UN world conferences on women? |
Mexico city -1975, Copenhagen -1980, Nairobi-1985, Beijing-1995 |
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GAD approaches |
Womens empowerment including access to decision making and changing self perceptions. Personal, close relationships, collective scales. |
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How does fairtrade work? |
Producers are paid a living wage which is enough for food, shelter, education and have some left over. A fairtrade group of farmers/workers are paid a social premium which they choose how to spend. |
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Fairtrade presence in UK |
427 towns, 93 unis, 5000 faith groups, and over 2000 schools signed up to the school scheme. |
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Tate and Lyle |
In 2008 tate and lyle announced all their retail sugar would be fairtrade, benefiting 6000 sugar producers in Belize who would receive a fairtrade premium of £2m in the first year alone. |
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Worldwide presence of fairtrade |
Works with 632 producer organisations, across 3 continents in 59 countries, benefiting 7.5 people. |
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Critiques of fairtrade |
Many more people could benefit (1.2 billion people are currently living on less than 80p a day) Most trade is not fairtrade. Many fairtrade certified producer organisations are currently only able to sell a small amount of what they produce on fairtrade terms. Often producing basic commodities such as cocoa not chocolate. |
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Sukambizi Association trust (SAT) |
An organisation of small-scale tea producers around mount mulanje, southern malawi. Tea is a major employer and foreign exchange earner. 99% of malawi tea = export markets. 93% of malawi tea is produced by privately owned tea estates, the other 7% is produced by up to 12,000 small scale farmers. Smallholder tea producers sell their freshly plucked green leaf to estate factories for processing, they dont have the resources to own a tea factory and are therefore unable to benefit from value adding activities. Sukambizi trust has 4,000 tea farmers who have been selling tea to lujeri estate since 2003. They have been fairtrade certified since 2008/ |
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Malawi fairtrade network |
Started in 2008 and by 203 had 12 certified organisations. |
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Fairtrade in Malawi |
Was introduced in 2004. There are 12,400+ smallholders of tea, sugar and ground nuts. 25% of annual sugar production produced from sugar cane grown by small holder farmers of Kasinthula Cane Growers Association. 9% annual 46,000 tonnes export tea is sold to fairtrade |
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Criticisms of state led development |
No trickle down, countries not catching up, 1970s - state spending outstripping GDP, states have no innate ability to foster +ve development |
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Basic needs approach (1970s) |
Target policy at poorest not macro-economic change. Still modernisation but turn to small scale interventions. Turn to multilateral institution and neoliberal solutions. |
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Chant and Mcllwaine |
Civil society is 'the space between the state and the individual, and the association formed by non-state actors within this sphere' |
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Number of NGOs |
1000 in late 1950s and 29,000 in early 1990s |
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BRAC |
The largest NGO from bangladesh and working worldwide (approx 100,000 employeesm £300m income from 2011) |
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WB funded projects with civil society involvement |
up from 21% in 1990 to 72% in 2006 |
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Generations of NGO strategies (Korten, 1990) |
1) First gen - direct delivery of relief or welfare services. 2) Second - the development of the capacities of people to better their own needs, and increase self-reliance 3) 3rd - the establishment of sustainable development systems 4) 4th - political advocacy and campaigning to support people's movements and promote a broader social vision. |
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Importance of NGOs |
Fill gap left by rollback of the state, respond to post-modern concerns in development, and respond to political move towards participation and democracy. |
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Criticism of NGOs |
Organisations such as the cambodia health service have taken over and arent accountable. Northern NGOs domiante funding and reduce southern NGOs potential to operate (crewe, 2014). Southern NGOs claim to represent their communities but are elite (Mohan, 2002) Can't reach poorest areas, security is a growing problem. Cooke and Kothari (2001) see participation as the new tyranny. |
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Village aid and YOWE in Ghana |
Village aid was the main source of funding. YOWE found it difficult to obtain donor funding focus on Eastern Ghana. YOWE has developed its own activities including microcredit |
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Income gap in OECD countries |
up 23% between 1990 and 2005 in europe, USA and Aussie |
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UNCED/Rio earth summit - Agenda 21 |
'blueprint' for sustainable development has an estimated cost of $625 billion per year including $125b through aid to south. |
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Rio+5 UN general assembly special session in New York - The deal promised at rio development has not been kept (michael meacher) In 1992 N donated .34% of GDP to south, the UN set a target of .7% but by 1996 it had fallen to .25% |
The deal promised at rio development has not been kept (michael meacher) In 1992 N donated .34% of GDP to south, the UN set a target of .7% but by 1996 it had fallen to .25% |
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Rio+10 UN world summit on sustainable development 2002 Johannesburg |
'reaffirmation of earlier principles', corporate responsibility and partnership |
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When did wilberforce die? |
1833 |
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Who had the right to vote in hull during wilberforces time? |
the freemen, corruption was rife and it was commented that the price of a vote was two guineas |
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When did wilberforce gain his first seat in parliament? |
1780 |
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Who forcibly recruited people to the royal navy? |
Press gangs |
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Wilberforce house |
Bought by hull council in 1903, built around 1660 by william catlyn for hugh lister |
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When did wilberforce make his first abolition speech? and when was his bill passed? |
His first speech was in 1789 - his bill was passed in 1807. |
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Slave registration bill |
Occurred in 1819 and forced owners to register all slaves. |
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How much did wilberforce spend on the election? |
£8,000 - he roasted an ox. |
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How many africans were forcibly transported across the atlantic between 1500 and 1900? |
12m |
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Which civilisations sentenced criminals to slavery as punishment? |
Aztecs, Babylonians and Romans - Aztec murderers became the slave of their victims family. |
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In which civilisation could a man give his entire family over to creditors for a maximum of 3 years? |
Babylonia |
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In ancient civilisations, how were slaves treated and what positions could they achieve? |
In babylonia slaves were the lowest class or 'wardu'. However in greece slaves could be teachers, scholars and doctors. In Egypt some slaves rose to high office in the Pharoahs palace. Roman slaves performed many jobs from working down mines, to walking ahead of fashionable romans to point out obstacles. Physical punishment and sexual abuse were common.Most slaves in ancient africa worked as servants, but some served in royal courts and as artisans. |
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In todays money, how much did Britain make from the slave trade? |
£2.5 trillion |
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Who commanded the first known slaving voyages? |
Sir John Hawkins |
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Chartered companies (slaving) |
They were granted exclusive trading rights between 1660 and 1698 until they lost their control allowing others to enter the business. |
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How much did a slave sell for in the caribbean in 1708? |
They were bought for £5 in africa and sold for £20 |
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Middle Passage |
The journey from the east coast of africa to the caribbean, often took 3 months. The second stage of the triangular trade |
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Gasper (2004) Different usages of the word development |
1) Development as a fundamental or structural change (increase in income) 2) As a intervention or action aimed at improvement, regardless of whether betterment is actually achieved 3) As improvement with good as the outcome 4) As the platform for improvement, encompassing changes that will facilitate development in the future |
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Positives of development |
brings economic growth and overall national progress. It causes modernisation along western lines, whilst creating sustainable growth. Can also being improved governance. |
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Negatives of development |
Development is a dependent and subordinate process. It creates and widens social inequalities. Undermines local cultures and values and causes homogenisation, it perpetuates poverty and poor living and working conditions. Can be environmentally unsustainable. In some cases human rights can be infringed an democracy is undermined. |
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President Truman |
He was establishing a neo-colonial rule in countries that have recently become independent and had emerged from the process of decolonisation. He encouraged the 'under-developed' nations to recognise their position and turn to the USA for long term assistance. |
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Modernism |
The belief that 'traditional' societies should be developed into modern westernised nations. There was little recognition that the traditional societies may have been content with the way of life they already had. Indeed, development strategies tried to persuade them otherwise. |
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Rigg (1997) |
He cites that the American advisers to the thai government in the 1950s tried to persuade the monks to stop preaching contentedness because it was seen as halting development. |
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Enlightenment challenging clergy |
During the 18th century a secular intelligentsia began to challenge the power of the clergy. Those who couldn't adapt to new views were seen as backwards. For example the aborigines were denied right to the land they occupied by the british invaders because they didn't organise and form in a systematic and rational way. |
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Esteva (1992) |
Modernisation - 'robbing people of different cultures of the opportunity to define the terms of their social life |
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Economists in development theory |
They are the reason why under-development is characterised through a countries GNP. The issues with GNP as a measure is that it gives no indication of the different classes that exist within a nation and the differing wealth of these classes. |
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Issues with Rostows take off model |
It devalues traditional societies and was in opposition to communism, therefore it perpetuated the cold war. It assumed that tropical places (with lazy, backward people) should be developed by temperate nations (industrious, superior people) |
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Reaganomics |
Still used today, reduce gov spending and regulation, was caused by neo-liberalism (capitalist ideologies opening up markets of world trade) |
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USA's relationship with Latin America |
It has tended to view latin america as its backyard, it has undergone military interventions in the region that favour its own interests. The cold war which was ostensibly about relations between soviet union and the USA was played out in south america, leading to many deaths along the US-mexican border |
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How many people of Latin American descent live in the USA as a whole, an in LA? |
50m live in the USA, with 7m of those living in LA. |
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Conclini (2002) |
It is difficult to compare everyone in latin american countries because when comparing latin american countries such as mexico and argentina the differences outweigh the similarities |
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Frank (2007) |
Latin america has to deal with poverty related illnesses as well as modern problems such as violence, Aids and heart disease. |
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Honduras 2009 |
A coup ousted the democratically elected leader leading to human rights rights abuses |
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Truman |
Former US president, he believes that half the world lives in conditions approaching misery and poverty as a result of underdevelopment. Whilst the other half (the western world) was in command of the knowledge and technologies to address this suffering, he believed that with western help countries could catch up |
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Escobar |
Development has been so pervasive and persuasive as a discourse that some people have begun to see themselves as needing development because of internalised feelings of inferiority |
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What is ISI? |
A model where states actively intervened to promote economic development, rather than leaving it to the invisible hand of the market. The government used import tariffs to protect local industry, They also implemented price controls, maintained an overvalued exchange rate and subsidised basic goods. |
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Advantages of ISI |
In Mexico and Brazil their GDPs tripled, and latin american countries grew faster than the first world of europe, by the early 1960's brazil was self sufficient in the production of manufactured goods. High import tariffs encouraged multinational companies to initiate production within latin america. Infant mortality fell and LE rose. |
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Disadvantages of ISI |
It was not sustainable in the long term. Protectionism encouraged domestic industry to grown but also caused inefficiency and corruption. Many ISI porducts were expensive and of poor quality, Lack of external competition meant that there was little desire to innovate. Good for cities but disastrous for the rural area s. From the 1950s vast numbers of people moved into the cities, many of these were condemned to informal sector work |
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1980s Nicaragua |
Government printed money to finance the military struggle against the US backed contra forces - consequently inflation rose by 10,000% |
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How did being integrated into the global economy affect latin america? |
It relegated it to a peripheral dependant status, producing raw materials for the 1st world. |
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1929 free trade model |
Ran into difficulties because of the wall street crash that led to global economic depression and unemployment. Commodity prices slumped and Latin Americas export market disappeared. |
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Bretton Woods |
The IMF and World bank were created in Bretton Woods in 1944 at a conferences held by allied governments. |
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Mayans |
They had a sophisticated writing and calendar system, which linked to agricultural, cosmological, astronomical, religious and mathematical knowledge's |
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The Aztecs |
Skilled warriors and had advanced architecture and modes of urban planning. Aztec Mexico frequently saw human sacrifice including that of children, and the emperor Montezuma reportedly kept a human zoo |
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The Incas |
They had well developed engineering skills in transport systems and irrigation for agriculture. |
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Consequence of Spains failure to recognise that a new continent had been discovered |
This led to the portguese colonisation of Brazil, Columbus died believing he had reached india as intended. Spain conceded Brazil in a diplomatic treaty known as the treaty of Tordesillas. |
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Spanish American territory |
It was an extensive territory than stretched from the southern point of south america into areas that today make up part of the US, it also included a number of caribbean islands. |
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Denevan |
The total populations of the Americas in 1492 was around 57m (4.4m in NA, 21m in Mexico, 5.7m in CA, 5.9m in the Caribbean, 11.5 in the Andes and 8.5m in lowland SA) |
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Schwerin |
The indigenous pop of the caribbean was wiped out in only 50 years. |
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Spanish practice when they conquer territory |
They read the inhabitants a document known as the Requerimiento, which informed them that they must submit to the king or face the consequences |
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About Latin America |
20 nation states, land mass of 21 million square km, pop of 600m - of which 40m are indigenous |
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Language in Latin America |
It has 50 language families and more than 70 isolates |
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How much of the latin american pop live in urban areas? |
75% |
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Latin American mega cities (Gonzalez 2011) |
The populations of Mexico city and Sao Paulo exceed 20 million inhabitants, Buenos aires has 13m and Rio, Lima, Santiago and Bogota all have in excess of 5m. |
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What voting system did the bretton woods institutions use? |
One dollar, one vote. |
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Keynesianism |
States should actively use fiscal and monetary policy to stabilise and stimulate the economy, Governments should control the money supply and therefore inflation through the setting of interest rates. In times of depression they should spend public money to activate the economy. |
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Prebisch, President of the UN economic commission for Latin America (ECLA) |
He theorised that the free trade market model which had dominated Latin America in the 19th century could not lead to economic independence for the region. He observed that during the recession prices of raw materials had fallen more dramatically than the prices of manufactured goods, a state of affairs economists refer to as unequal terms of trade. |
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Oil Prices |
In 1973, and again in 1979, the oil-producing countries (OPEC) increased the price of oil - move that produced stagflation. While western nations were stagflating, the OPEC countries were making massive profits. These profits were known as petrodollars and were often deposited in commercial banks in the UK and the US. These petrodollars were aggressively offered as loans to Latin American countries, in what became known as the dance of the millions, a citicorp or Midland banker would turn up to brazil or Argentina and instantly grant multi-million dollar loan to their government. |
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Franko (2007) borrowing |
by 1982 Latin America had borrowed $300m from first world banks |
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Thatcher and Reagan Policies |
They implemented restrictive monetarist policies in an attempt to deal with the stagflation affecting their countries, hiking up global interest rates. Also the oil crisis had resulted in a fall in commodity prices. The gap between what latin american countries were able to earn from their exports and the prices they were required to pay for their services widened. This was the beginning of what is known as latin americas lost decade. |
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Mexican debt crisis |
It began august 1982, when the finance minister discovered discovered they didn't have the funds to pay their debt repayments the following monday. Banks were forced to contribute an emergency rescue package by the IMF to Mexico. |
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IMF conditionality |
Varied between countries but generally contained the following policies: cut in public spending, promotion of exports, the elimination of gov subsidies, privatisation of state-owned enterprises, and the liberalisation of foreign trade and investment. |
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World Trade Organisation (WTO) |
Formed in 1995, neutral site where member states can resolve trade disputes, it is against protectionism and for trade liberalisation. |
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Peru opinion poll |
75% of those polled supported an agreement with the IMF |
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Latin American income change (1980s) |
Per capita incomes dropped by 10% and investment fell from 23 to 16% of national income. import activity dropped sharply, as govs transferred a massive stream of wealth - totalling over $200b, or 6% of GDP. |
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How many people were living in poverty in latin america by 1990? (WB) |
1/3 - up from 27% a decade earlier |
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How much debt service did latin america pay between 1980 and 2000? |
$1.65trillion, and still owed $750billion in 2000, up from $191b in 1981 |
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Remittances in latin america |
They totalled $60b in 2011 in some countries they total more than 15% of the GDP |
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3 for 1 programme in mexico |
Mexicans living the US are encouraged to set up hometown associations (HTAs), there are now 3000 of these. Every dollar sent is matched by $3 from the mexican gov and is spent on community development |
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Bolivia in 1985 |
The bolivian gov ran out of money and started printing money to pay for things it needed, this causes hyperinflation of 23,000% and prices to rise every hour. After the 1985 election sachs drew up massive reforms that were done in secret and put through in a state of siege so workers could be fired and union leaders silenced, presidential decree 21060 that was removed by the next president evo morales. |
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'Tequila effect' |
in 1994 the mexican economy and the peso collapsed and the IMF thought it would affect the rest of the continent. |
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Argentinas economy in the 1980s |
Temporarily stabilised by pegging the peso to the US dollar. Over time it became overvalued, capital flight intensified and the economy went into free fall. Consequently the government was forced to default on $100b worth of debt, freeze bank accounts and devalue the peso. |
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What did the newly unemployed workers do in Argentina in the 1980s? |
They formed movements of unemployed workers (MTDs) and organised blockades and protests. Others became active in the national movement of recovered companies, in which the workers who had lost their jobs occupied and took over the failed companies. In many cases they were turned into successful worker-run cooperatives. Examples include the Hotel Bauen in Buenos Aires and the Zanon tile company in Nequen. |
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1989 Brady plan |
Called for structural adjustment. Debtor govs could buy back their own debt at a discount or convert it into tradeable bonds with longer to pay. The plan also created debt-for-equity for swaps whereby a foreign investor could buy part of a countrys debt at a discount and be paid the equivalent in local currency to invest in that currency. Debt-for-nature swaps were also possible, whereby a NGO or environmental organisation could buy a countries debt at a discount for the creation of a national park. |
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Heavily Indebted Poor Countries (HIPC) |
Started by the IMF in 1996. Five latin american countries were eligible: Haiti, Guyana, Bolivia, Honduras and Nicaragua. In order to qualify for debt relief countries must have a satisfactory track record of economic reform implementation and prepare a poverty reduction strategy paper (PRSP) Theoretically HIPC can provide up to 80% cancellation of a countries external debt |
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Multilateral Debt Reduction Initiative (MDRI) |
Introduced by the G8 in 2006. In 2003 Nicaragua had one of the largest per capita debts in the world but today its external debt has fallen to $4b from a high of $12b in 1994 and $6.7b in 2003 |
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North American Free Trade Agreement (NAFTA) |
Between Canada, USA and Mexico and came into place on the 1st jan 1994. it has involve the gradual elimination of tariffs and non-tariff barriers between the three nations. |
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Opposition to NAFTA |
Opposition to NAFTA was central to the zapatista uprising in chiapas. On 1st Jan 1994, thousands of indigenous mexicans formed the Zapatista Army of National Liberalisation (EZLN) seized a number of towns and cities in southern mexico |
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The free trade area of the americas (FTAA) |
It suffered a resounding defeat at the summit of the americas in Mar del plata in 2005, particularly as a result of opposition from Latin American leaders to the maintenance of agricultural subsidies in the US. |
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What is ALBA? |
The bolivian alliance for the peoples of our america, an anti-neoliberal alternative to the FTAA |
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What is UNASUR? |
It formed in 2008 as a result of the merger of Mercosur and the Andean community. |
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Bananas in latin america |
They are not native to the region but have been cultivated there since the colonial period. The term banana republic was coined to refer to a country such as Honduras or Guatemala in which MN banana companies could dictate domestic policy (United fruit company - now chiquita and standard fruit) |
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Why was the President of Guatemala overthrown by the CIA? |
Jacobo Arbenz was overthrown because he threatened to confiscate 15% of UFCO's 650,000 acres in an agrarian reform programme and enhance worker protection legislation. |
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Issues with monoculture |
Makes crops less resistance to disease and therefore increase likelihood of epidemics such as panama disease and sigatoka |
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Which fruit country used a banned pesticide? |
Dole, a US MNC continued to use nemagon after it was banned in the US. Its use has led to: high levels of sterility, miscarriages, skin disease, cancer, birth defects. |
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Non-traditional agricultural exports (NTAEs) |
Broccoli, citrus fruits, flowers and melons. They disrupt dependency on a single crop or mineral, but also involve the heavy use of pesticides and further concentration of land and wealth. |
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Cochabamba water war of 2000 |
Began in bolivia in 2000 because the world bank informed bolivia that it would only approve a loan if it privatised its water system. After taking over the water supply us company bechtel hiked prices by 200% and told well owners that they needed a permit to get to their won water supply, bechtel fled after protests and water was renationalised. |
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Metalclad |
A US company that claimed $15m in compensation because it was prevented from making a landfill in mexico due to fears over water quality. |
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How many hectares of the amazon rainforest was lost between 1980 and 1995? |
3m per year. |
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How many tons of mercury does peru import every year? |
142 |
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Barrick Gold |
A canadian company which wants to gold mine through cyanide leaching in Peru, however locals have fought against the Pascua Lama project. |
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Chevron |
They were found guilty of widespread environmental damage in 2011 and forced to pay $8 billion in damages. |
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Electricity usage USA vs Latin |
The average chilean or venezuelan uses about 20% of the daily usage in the USA, however Guatemalans and Nicaraguans use 2.8 and 2.6% respectively. |
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WTO Free trade policies - EU Banana Imports (Lome Convention of 1975) |
African, Caribbean and Pacific states (ACP) were allowed preferential access to European markets for some products. This was particularly important for agricultural products which formed a substantial part of ACP foreign exchange income. Bananas were a key product in these agreements, forming up to 60% of exports from some countries. Banana imports from non ACP countries were subject to tariffs. in 1996 the US gov made a complaint to the WTO about this preferential treatment, argued that it violated the free trade rules. The USA doesn't export bananas, but US companies such as chiquita have large scale interests in latin america, the EU challenged the complaint but the WTO ruled in favour of the USA |
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WTO Free trade policies - US steel |
In 2002, the US gov implemented increased tariffs on steel imports into the USA, arguing that this didn't violate WTO rules because the rules allowed for measures to be introduced in times of crisis. The USA argued that the 9/11 attacks and the associated economic crisis, justified these measures. China, Brazil, the EU, Japan, Korea, New Zealand, Norway and Switzerland all protested and the USA was forced to change the policy. |
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How much fairtrade products were purchased in 2009? |
£799m |
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Adam Smith |
Paying producers more to produce coffee just encourages them to keep producing coffee when they should be diversifying into other activities. |
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Kuapa Kokoo Cooperative (Ghana) |
Historically ghanaian producers have sold to 'middle men' for sale on the global market. In the 1930's the then colonial government took over the trading of the cocoa crops and this continued following Ghanaian independence from britain in 1957, by doing this, the government was supposed to be able to cushion the producers from price fluctuations on the world markets. However during the 70s cocoa prices fell by two thirds and in the 80s ghana adopted SAPs and this was no longer possible. In 1993 the cooperative was set up, some of the crop was sold to a fairtrade company. In 1997 they decided to produce their own chocolate bar and the day chocolate bar company was formed (now divine chocolate) There are now around 45,000 members. Nearly 30% of the members are women. |
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The Central American Common Market (CACM) |
Set up in 1960 by Costa Rica, Guatemala and Nicaragua, with El Salvador and Honduras joining slightly after. Inter regional trade increased from 6.5% in 1960 to 26.1% in 1971. Political unrest, limits to ISI, followed by the debt crisis and SAPs led to stagnation in activities. |
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Corporate Social Responsibility (CSR) Davis 1973 |
'The firms consideration of, and response to, issues beyond the narrow, economic, technical and legal requirements of the firm' Originally focused on social aspects, it now increasingly includes environmental issues. CSR is a conceptual space rather than a single concept. |
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Levels of CSR |
1) Responsible management and honest reporting 2) Corporate responsibility and charitable investment. Examples: $145m given by google, and $102m given by coca cola in 2010. 3) Decent treatment of staff and adherence to and improving on local state labour standards. Many MNCs have been accused of undercutting state regulation, by for example, not allowing union representation in the workplace. 4) Treatment of suppliers and the behaviour of MNC's in value chains. |
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What is microcredit? |
The provision of very small amounts of credit to borrowers who are usually excluded from formal banking systems, often because they lack collateral in terms of property, regular income or savings. The Grameen Bank, founded in 1893 by Muhammad Yunus in Bangladesh. The benefits have been queried as large financial institutions have seen microcredit as another potential source of revenue. Kiva provides a platform where donors, primarily in the global north, can lend $25 and above to borrowers usually in the global south. As of $440m has been lent by 950,000 lenders |
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mobile phone usage in ghana |
72.6 per 100 people |
