Open Veins of Latin America: Five Centuries of the Pillage of a Continent - Study Guide The Contemporary Structure of Plunder Summary & Analysis

Eduardo Galeano
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An Impotent Talisman

In 1916, just one-fifth of foreign investments were from the United States. In modern times, however, three-quarters of direct private investment in Latin America is from the United States.The turning point was WWII when Latin America saw US investment advancing at the retreat of those from European interests. Following the European models, unequal exchange agreements have placed Latin America in an untenable position. Hunger wages in Latin America pave the way for high salaries and benefits for US workers. Although Brazil is an industrialized nation, it is still vitally dependent upon its coffee exports while Argentina depends on sales of beef to foreign powers. Globalization has benefited the powerful countries while the industrialization of Latin America has not been beneficial to its economy nor its society. It is structured in such a way that...

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