Latin American Economic and Social Concepts

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Free Trade

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Many Latin American countries have embraced agreements that reduce barriers to exchanging goods across borders.

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Protectionism

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Some nations in the region impose policies to safeguard their industries from foreign competition.

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NAFTA

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This historic agreement significantly influenced trade relationships between Mexico, the United States, and Canada.

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Tariff

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Import taxes on goods have shaped economic strategies across Latin America.

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Remittances

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Money sent by workers abroad is a major source of income for many families in Latin America.

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Monroe Doctrine

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This U.S. policy historically impacted political and economic relations with Latin America.

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Banana Republic

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Certain Latin American nations were historically dominated by foreign companies controlling their agricultural exports.

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Panama Canal

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This vital waterway revolutionized global shipping routes through Central America.

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Ecotourism

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Countries like Costa Rica promote sustainable travel to protect their diverse ecosystems.

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Embargo

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Trade restrictions have influenced economic conditions in parts of Latin America.