Developments in Latin America and Southeast Asia Essay

Challenges in economy and politics emerged in diverse separate of the world after war against Japan. Development in Southeast Asia and Latin the States notably different from otherwises, Standard of living in Latin region significantly much higher than in Southeast Asia (Rozenwurcel qtd. in Grabowski 25). Countries are moving towards Industrialization in different regions, on the other hand protecting local industries against import products through imposition of tariffs and quotas.The inward-oriented developing strategy of Latin the States brought frugal environment which created total productivity that challenge competition, internal and external stinting policies, this strategy failed resulted in minuscule productivity of Latin Americas economy. The region of Latin America has abundant land relatively with rich vivid resources but a labor-scarce region. Latin American countries decided to shift strategy from inward-oriented to outward-oriented strategy i.e. thither is a d ifficulty in moving towards turnout of labor-intensive manufacturing goods from production of natural resource-intensive goods (Grabowski 26). Changing strategy has been impossible to attain for Latin America, this would scram thoroughgoing devaluation (an official value reduction of a currency) which in fact, devaluation creates swelling in the local economy (Mahon qtd. in Grabowski 26).However Latin America diverge their attention in addressing problems of inequality and population, the capabilities of the region led to their development, this extreme inequality allowed elites to use their power to influence the development of both economic and political institutions, these economic and political rules excluded the continuous population growth and became trusty for wealth and power of the elite (Engerman and Sokoloff qtd. in Grabowski 27).The economy and politics in Latin America strengthened through proper management and enforcement of policies condescension of their inabil ity to effective adaptation of outward-oriented strategy. According to Dr. Diouf in his interview closely Inequality about development in Latin America, the cap able-bodied leaders and the necessary political will, the countries of Latin America will be able to rise to the challenges of hunger, malnutrition, inequality and economic problems.World War II surface the way for Asian countries to attain their independency from powerful countries namely united States and Great Britain. In Southeast Asia, development of one country is different from others, but one thing is common that their economic development has been attached with environmental degradation (Iwami 1). Southeast Asian countries like Malaysia, Burma and Singapore achieved independence from British colony while Philippines from the United States, in fact, the abundant natural resources exploited since before 1945.It is much easier to prepare the path towards industrialization if in that respect is a strong agricultura l base countries with rich agriculture perish supplier of raw materials and labor to industrial countries. To accelerate development of fresh natural resources, governments in the region have been attracting foreign investments which possess big money of money, modern technology and expertise in management, the region greatly concern in industrialization as producers of raw products and laborers due to global economic interdependence.Many countries in different regions believe that industrialization is their hope for economic liberation from colonial economy and solution to problems of poverty, hunger and diseases. Industrialization has been legal transfer opportunities for employment, utilization of agricultural resources and fits to the total economic development program of the country.ReferencesModes of long run development Latin America and East Asia. 2008. Journal of Institutional Economics. 15 November 2008 . Inequality impedes Development in Latin America and Caribbean . 28 April 2004. regimen and Agriculture Organization of the United Nations. 15 November 2008 .Economic Development and purlieu in Southeast Asia An Introductory Note. October 1999. Faculty of Economics, University of Tokyo. 15 November 2008 http//www. e. u-tokyo. ac. jp/cirje/research/dp/99/cf61/dp. pdf.