Why is South America less developed?

Steep mountains and tropical forests made land transport difficult to impossible. They led to the fragmentation of the Spanish New World empire into many, mostly relatively small countries and hindered the development of trade both between and within countries.

Who had the biggest impact on Latin America?

Latin America came to fruition in the 1500’s after European “discovery” of the New World. Countries such as Spain, France and Portugal colonized the region. Although most of Latin America was colonized by Spain, the countries of Portugal and France also had major influences on the region.

Can Latin America become first world?

That would be an accomplishment of both center-left and center-right governments that have ruled Chile since the end of the country’s military dictatorship, and it would send a powerful signal abroad. It would be great for Chile, and it would be great for Latin America.

Is Latin America a developed region?

No country in Latin America can be named developed, although a few are higher-middle income. In contrast to Latin America, Asian countries also had a stable macroeconomic environment during this time—smaller fiscal deficit (sometimes surpluses) and low and stable inflation rates.

How unstable is Latin America?

For more than a century, Latin America has experienced a damaging combination of high inequality, poor economic performance and weak political institutions. This has contributed to persistent political volatility and social discontent. Most workers had low-paid jobs that did not provide access to social benefits.

What is the richest South American country?

Chile
Argentina ($545.87 Bn) Venezuela ($291.38 Bn) Colombia ($282.46 Bn) Chile ($247.05 Bn)…Richest Countries in South America 2021.

Country	Costa Rica
GDP (IMF ’19)	$60.46 Bn
GDP (UN ’16)	$57.44 Bn
Per Capita	$11,176

Who is the poorest country in South America?

Bolivia
Here are the 10 poorest countries in South America: Montserrat ($62.05 Mn) Anguilla ($337.52 Mn)…Poorest Countries in South America 2021.

Country	Bolivia
GDP (IMF ’19)	$43.69 Bn
GDP (UN ’16)	$33.81 Bn
Per Capita	$33.81 Bn