Latin American Country Research Paper

Latin American countries are considered underdeveloped or backwards for this very reason. In an attempt to become somewhat economically and financially independent of foreign countries, Latin American nations established what is known as enclave economies, which is the specialization of one particular product for export. Unfortunately, this lead to the same cycle of dependency because of the constant need of foreign imports and exports; due to the fact that there were not ample amounts of technological advancements in order for industrialization to happen locally. This lack of industrialization is coupled with the fact that the products being exported where done cheaply and those being imported were at a higher price. This also contributed