Notes for Economic & Political Cooperation in the Americas - IB | RevisionDojo
Economic & Political Cooperation in the Americas Notes
After World War II, countries in the Americas were largely shaped by the rise of the United States as a global superpower, the onset of the Cold War, and significant economic shifts. While nearly all nations in the Americas had allied with the U.S. during the war, the postwar period brought new challenges, from rising political instability in Latin America to newfound prosperity and security alliances in North America.
Reasons for Regional Cooperation
After World War II, countries in the Americas sought economic growth, stability, and security through collaboration.
The Cold War encouraged the United States to promote cooperation as a way to contain communism and strengthen alliances.
Many Latin American nations faced economic dependence on exports and foreign debt, so regional cooperation aimed to diversify economies and increase trade.
Shared challenges such as poverty, inequality, and underdevelopment motivated countries to pursue collective solutions.
The success of European integration (EEC) inspired similar attempts in the Americas.
Forms of Cooperation: Economic Integration
Organization of American States (OAS) (founded 1948): Promoted democracy, human rights, and hemispheric unity.
Served as a diplomatic forum during the Cold War.
Critics said it reflected U.S. dominance.
Latin American Free Trade Association (LAFTA) (1960): Aimed to create a regional market by reducing tariffs among Latin American nations.
Limited success due to economic inequality between member states.
North American Free Trade Agreement (NAFTA) (1994): Linked the economies of the U.S., Canada, and Mexico.
Boosted trade and investment but raised concerns about labor exploitation and environmental harm.
Mercosur (1991): Formed by Argentina, Brazil, Paraguay, and Uruguay to promote free trade and regional cooperation in South America.
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Note
After World War II, countries in the Americas recognized the need for regional cooperation to address common challenges and opportunities. The devastation of the war highlighted the importance of economic stability and security through collaboration.
The Cold War era further emphasized the need for cooperation, as the United States sought to contain communism and strengthen alliances in the Western Hemisphere.
Many Latin American nations faced economic challenges such as dependence on exports and foreign debt, making regional cooperation a potential solution for economic diversification and growth.
Shared social issues like poverty, inequality, and underdevelopment also motivated countries to work together.
AnalogyThink of regional cooperation like a neighborhood watch program, where neighbors come together to address common concerns and support each other for mutual benefit.
