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Latin America and the Caribbean - Economic Aspects
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People throughout Latin America are rapidly moving to the urban and industrial centers.  Industry is taking off, and high rates of economic growth are still being experienced in many countries in Latin America and the Caribbean.

In addition to industrialization, urbanization and economic growth, expanding agriculture is also a major problem.  As countries have needed more crops both to export for foreign capital and to consume domestically, farmers have moved onto marginal farmlands.

Many Latin American countries developed major debts to wealthier Western nations.  Eventually, this caused these countries to reduce their own national spending and to privatize state-owned industry.

Another major change was the liberalization of the economy and the further opening to foreign trade.  This has caused many countries in Latin America and the Caribbean to export their raw materials for foreign capital.

This need for exports led to heavy deforestation in many countries.  Also, agricultural expansion was caused by the need for crop exports.  This expansion caused severe degradation of the land.

Economic growth in the 1990s has both hurt and helped environments in the region.

On the positive side, more modern industries have used natural resources more efficiently.  Also, foreign countries are becoming more influential and are persuading the region to develop stronger environmental regulations.

On the negative side, the shift from the public to private sector meant a decreased concern for the environment.  Also, the increasing exports of natural resources have meant a great amount of environmental degradation.

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