Improvement of the Political and Economic Situation of Latin America
248). The exchange between Latin America and the industrialized world did not flow only towards the latter; manufactured goods from Europe and the United States were imported into Latin America at increasing rates, while private investment in Latin America also grew. British investment, for example, went from 85 million pounds sterling in 1870 to 757 million pounds in 1913; by the end of that time period British investors owned about two-thirds of the total foreign investment in Latin America. The downside of this foreign investment was that foreign interests controlled key sectors of Latin economies (Skidmore, 1984, pp. 47-48).

Most Latin American countries obtained their independence during the 19th Century; the strongest influences during this period of nation-building were those of the American revolutionary/constitutional period and the French Enlightenment. Independence, however, only meant that power passed from the colonial governors to the large landowners. Leaders in the new countries consisted of individuals who attracted support through personal magnetism rather than through any civic-minded ideas, as in the United States or western Europe (Harris & Alba, 1974, pp. 22-25). Eventually, political parties grew up around personalities. This personalism has persisted up to the present time; as a result, the kind of democracy practiced in Latin America has

 
 
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    Latin America | Latin American | Cortes Conde | El Salvador | Peru Peru's | Central America | Central American | World War | Royal Marines | Soviet Union | latin america | latin american | american countries | central america | latin american countries | world war | skidmore 1984 | skidmore 1984 pp | 1984 pp | industrialized world | raw materials | 20th century | latin american economies | cortes conde 1992 | cardoso fishlow 1992 |  
   
 
 
 
   
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