Question

How did Latin American societies change when mercantilist practices lifted and they were integrated into the global economy without the dependency of the mother country?

a. Economic decline and increased dependency.
b. Cultural isolation and stagnation.
c. Economic growth and increased independence.
d. Political subjugation and external control.

Answer 1

After the end of mercantilism, Latin American countries faced the challenge of adapting to capitalism, which led to an initial economic decline and increased dependency on foreign products and capital. Efforts towards economic growth and independence were impeded by these factors, resulting in a complex economic situation marked by persistent inequalities. The correct answer is option a. Economic decline and increased dependency.

Step-by-step explanation:

The changes in Latin American societies after the lifting of mercantilist practices can largely be understood as adopting a new economic order, which resulted in the integration of these countries into the global economy. This shift led to several significant impacts:

• Latin American countries experienced initial economic decline due to the influx of cheaper manufactured goods from the United States and Europe, which undermined local industries.
• An increased dependency on foreign goods and capital ensued, as the countries continued to export raw materials and imported finished products, deepening economic imbalances.
• Despite these challenges, there were efforts towards achieving economic growth and a greater degree of political and economic independence from their former colonizers.

Adaption to the new capitalist economic system, along with internal and external challenges, left many Latin American countries in a complex situation where economic growth was often undermined by increased dependency and persistent inequalities.