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Why Is It Called Latin America?

Governments made financial security their primary policy goal over social programs, enacting new neoliberal economic policies that implemented privatization of previously national industries and the informal sector of labor. In an effort to bring more investors to these industries, these governments also embraced globalization through more open interactions with the international economy. More than three centuries of direct Spanish and Portuguese colonial rule left lasting imprints on Latin America. Spanish and Portuguese are the dominant languages of the region, and Roman Catholicism is the dominant religion.

  • But the national debate proved a stepping stone in Argentina’s expansion of abortion rights.
  • Latin America came from a desire to distinguish French-, Spanish- and Portuguese-speaking countries from those that spoke English, German or any other language.
  • Half of Chile’s population still wants to replace the nation’s constitution, according to a poll carried out by the Chilean market research company Cadem one week after the nation voted overwhelmingly against replacing the constitution.
  • While it was used by some as a way to fight imperialism in the 19th century, it’s inseparable from its history of colonialism.

Liberals sought a new model of government, a constitutional monarchy, with limits on the power of the king as well as on the Catholic Church. Ruling in the name of the deposed Bourbon monarch Ferdinand VII, representatives of the Spanish empire, both from the peninsula and Spanish America, convened a convention in the port of Cadiz. For Spanish American elites who had been shut out bitcoins market cap crosses $1 trillion as etfs start trading of official positions in the late eighteenth century in favor of peninsular-born appointees, this was a major recognition of their role in the empire. These empire-wide representatives drafted and ratified the Spanish Constitution of 1812, establishing a constitutional monarchy and set down other rules of governance, including citizenship and limitations on the Catholic Church.

Brief History

The term is sometimes used more broadly to refer to all of the Americas south of the United States, thus including the Guianas ; the Anglophone Caribbean ; the Francophone Caribbean; and the Dutch Caribbean. This definition emphasizes a similar socioeconomic history of the region, which was characterized by formal or informal colonialism, rather than cultural aspects . Some sources avoid this simplification by using the alternative phrase “Latin America and the Caribbean”, as in the United Nations geoscheme for the Americas. Even if it wasn’t the first country in Latin America to legalize abortion, Argentina is viewed by many as the launchpad for the recent abortion rights movement sweeping across other parts of the region. Starting in 2005, Argentina’s National Campaign for the Right to Abortion adopted the use of a green bandana—representing health—in a move that harkened back to the use of white kerchiefs used by mothers of those disappeared during the country’s dirty war.

  • Manufacturing and services will benefit from increasing exports and improving consumption.
  • This was the first Latin American literary movement to influence literary culture outside of the region, and was also the first truly Latin American literature, in that national differences were no longer so much at issue.
  • From the early twentieth century, the art of Latin America was greatly inspired by the Constructivist Movement.
  • Allende and his coalition held power for three years, with the increasing hostility of the U.S.
  • The vote is due to be held in September 2022,44 but there is a growing risk that the assembly will seek an extension for the drafting process until end-2022.

Its replacement was a statue to a mestiza fighter for independence, Juana Azurduy de Padilla, provoking a major controversy in Argentina over historical and national identity. The earliest known human settlement in the area was identified at Monte Verde, near Puerto Montt in southern Chile. Its occupation dates to some 14,000 years ago and there is disputed evidence of even earlier occupation.

Nineteenth-century revolutions: the postcolonial era

Inflation in March 2022 reached its highest level in 20 years (7.5% YoY), with its core component continuing on an upward trend. Advances are being generalized within the core component, led by food prices, while the noncore component is being put under pressure by external shocks. We expect inflation to ease in the second half of the year, but still conclude 2022 around 6.6% YoY. After months of negotiation, the energy reform bill proposed by the Mexican president, Andres Manuel Lopez Obrador, was repealed in Congress. The reform had aimed at transforming the regulatory landscape for electricity in the country, including canceling power generation permits and prioritizing CFE (Comisión Federal de Electricidad) power over private generators.

This tighter monetary policy and higher interest rates are making financing more expensive for governments, which in turn compromises debt sustainability. This has, in turn, forced the region’s central banks to accelerate interest rate hikes, jeopardizing growth and making private and public financing more expensive. Even though the price rise is boosting the 5 best cryptocurrency exchanges in the uk region’s exports, it also poses several critical challenges. For instance, the region faces a deficit in gasoline global trade, which in some cases offsets the positive effect generated by increased revenue from exports. In addition, the rise in food and energy prices, by impacting consumption and production costs, has accentuated inflationary pressures.

latin america

Despite the large-scale mobilizations, in August 2018, Argentina’s Senate voted down legislation that would have decriminalized abortion in the first 14 weeks of pregnancy. That left the country with its status quo legislation allowing abortion just in cases of rape and risks to a woman’s life. In 2008, President Tabaré Vázquez vetoed a Congress-approved bill that would have decriminalized abortion. But four years later, during the presidency of José “Pepe” Mujica, the landscape changed. On October 17, 2012, Uruguay became the second country in Latin America to legalize abortion, following a 17–14 vote in the Senate. In light of Roe v. Wade getting overturned, AS/COA Online covers the expansion of abortion decriminalization in Latin America in the twenty-first century.

South America

Today, the economy of Central America is more diversified, though agricultural exports like coffee, bananas, and pineapples are still important. Costa Rica, for example, has developed an impressive medical technology-producing sector. Panama has seen significant economic growth due to its investments in mining, transportation, and logistics. The country is also home to the strategic Panama Canal, which provides a vital shipping lane linking the Atlantic and Pacific Oceans. Although much of Latin America gained its independence in the early nineteenth century, formal recognition by their former metropolitan powers in Spain and Portugal did not come immediately. The Spanish crown did not recognize new Spanish American nations’ independence and sent expeditions to Mexico in failed attempts to regain control over its valuable former territory.

latin america

In the food industry, in 2019, Brazil was the second largest exporter of processed foods in the world. In 2016, the country was the second largest producer of pulp in the world and the eighth largest producer of paper. In the footwear industry, in 2019, Brazil ranked fourth among world producers. In 2019, the country was the eighth largest producer of vehicles and the ninth largest producer of steel in the world. In 2018, the chemical industry of Brazil was the eighth largest in the world. In the textile industry, Brazil, although it was among the five largest world producers in 2013, is very little integrated into world trade.

Key Takeaways: What Is Latin America

Salvadoran President Nayib Bukele made use of his platform at the United Nations — which he once again deemed obsolete and claimed to no longer believe in — to deliver a speech on Tuesday centered around the topic of freedom, and his country’s fight towards such an ideal. The United Nations Independent International Fact-Finding Mission on the Bolivarian Republic of Venezuela released a report on Tuesday detailing how the socialist regime of Nicolás Maduro — which currently holds a seat at the U.N. Human Rights Council — has utilized its intelligence and military agencies to carry out crimes against humanity. Far-left Chilean President Gabriel Boric condemned fellow leftists during a conversation in New York on Thursday for failing to criticize the human rights abuses of leftist leaders, demanding “no double standards” for human dignity.

The Mexican economy, although remaining below its prepandemic level and potential, is slowly recovering. After experiencing a sharp contraction in 2020 (–8.2% YoY), the economy grew by a mere 4.8% YoY in 2021. In 2022, the economy is expected to grow by 1.8% YoY, which implies a complete recovery is not expected until 2023. Manufacturing and services will benefit from increasing exports and improving consumption.

Explainer: Abortion Rights in Latin America

Even since independence, many of the various nations have experienced similar trends, and they have some awareness of a common heritage. Not only do the people live in a large number of independent units, but the geography and climate of their countries vary immensely. The inhabitants’ social and cultural characteristics differ according to the constitution of the occupants before the Iberian conquest, the timing and nature of European occupation, and their varying material endowments and economic roles. In the nineteenth century, a number of Latin American countries sought immigrants from Europe and Asia. With the abolition of black slavery in 1888, the Brazilian monarchy fell in 1889.

Its main representatives are Jesús Soto, Carlos Cruz-Diez, Alejandro Otero and Gego. Due to the impact of Enlightenment ideals after the French revolution, a certain number of Iberian American countries decriminalized homosexuality after France and French territories in the Americas did so in 1791. Some of the countries that abolished sodomy laws or keeping cryptocurrency secure banned state interference in consensual adult sexuality in the 19th century were Dominican Republic , Brazil , Peru , Mexico , Paraguay , Argentina , Honduras , Guatemala, and El Salvador. Today same-sex marriage is legal in Argentina, Brazil, Colombia, Costa Rica, Ecuador, Uruguay, and French overseas departments, and in several states of Mexico.

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