Universidad del Rosario

Economic Development in LATAM

Juan Camilo Cruz Ortegón

SOCIALISM IN LATIN AMERICA

1. How can you explain the socialism in XXI and in your own perspective what do you
think of the socialism in Cuba, Venezuela, Argentina and Uruguay what are the pros
and contras of each of them?

Socialism is a political phenomenon that has been implemented with extensive

development in Latin American territory, this political and economic current cannot be
explained without the Marxist ideas that have been imported by the guerrilla
movements in most countries of the continent. The lack of presence and support due to
the lack of the state resulted in these ideas in the young and poor population, as in
Cuba, which was the engine that promoted the Cuban revolution by Fidel Castro, who
at first was characterized by relying on national production and end of the American
presence on the island, but then it became an absolute tyranny and the null democracy
in the political exercise that left the Island in an economic and generational
backwardness that to this day affects Cubans, but that evil Endemic, not only did he
stay in beautiful Cuba but Socialism came to Venezuela at the hands of Hugo Chavez in
the form of a coup, this country that has been characterized as a gold mine in oil
committed the sin of nationalizing all production national and government companies,
basing their economy on almost 96% with oil, and to this day that oil is in decline and
does not have the same value as 10 years ago and after the death of Chavez that It was a
dictatorship and the subsequent Maduro presidency that has left a hyperinflation never
seen before.
In conclusion, Socialism has impacted the region in a significant way, however, rigging
itself in power will always be negative and more with zero exports and dealing with
other countries in the world, despite the fact that most countries that They turned to this
economic model and are very far from capitalist countries. Some ideas are valuable and
if they were to be implemented properly they would help a lot to reduce inequality in
society, as is the case in Uruguay and Argentina a few years ago.
2. What is The Socialism of the XXI century and its effect on Argentina, Bolivia,
Ecuador and Venezuela? and the repercussion in the region use graphics, drawings,
pictures, etc.

VENEZUELA

The impact of the oil fall, coupled with Maduro's tyranny, has left Venezuela in
the most serious crisis in its history.

ARGENTINA
After the end of the government of Cristina de Kirchner, the fiscal crisis deepened
due to the government's over spending and the lack of payment of the debt with
the world bank, this left Argentina in an inflation and economic crisis that has
devalued its currency the peso over the years.

BOLIVIA

Bolivia is a particular case of how rural socialism has helped the country's
progress, however it is worth noting that the conditions of the country, which
being agricultural in nature and with little imports and exports in the trade
balance, have allowed the government of Evo Morales in great changes in the
country.
ECUADOR

Dollarization and democracy have allowed Ecuador to be a model country in the

region despite having a socialist government at the hands of Correa, the country
has never stopped being liberal and being very attractive to foreign investment,
and this is reflected in a stable and positive economy in the region.