The years 1850 through 1960 had a great Impact on the regions of Latin America and East Asia. During this time, they faced many political and economic challenges however, these challenges and the way Latin America and East Asia reacted to them had similarities and at the same time were very different. Economically, both of these regions relied heavily on imports from industrialized countries and were both politically instable although more so Latin America than East Asia. Communism during this time was spreading rapidly. Their forms of government and the growth of Communism in these regions also differed greatly. Industrialization continued to pose problems for non-industrialized portions of East Asia and much of Latin America.
Swings in world economy greatly affected the Latin American region as well as East Asia. Any problems in the world economy meant that the demand for raw materials drastically declined, undermining many of the economies of Latin America. They depended heavily on the U.S. for materials such as steel and oil however, when the Great Depression hit, the U.S. was no longer able to provide these materials to Latin America. In Brazil, in an attempt to form their own industry and not have to rely on other powers for imports, Getulio Vargas, the president of Brazil, formed the import-substitution industrialization policy. Like Brazil, Japan, who was also dependent on the U.S. for raw industrial materials, wanted to be independent although from much earlier on. Latin America and East Asia were similar in that they were not strong politically which made them suffer economically. In Latin America, they went through various political leaders who both brought many positive changes but also hurt the economy. Under the rule of Hipólito Irigoyen, Argentina used profits accumulated during the war to industrialize and improve their transportation systems and public utilities but it was also a time of social tumult. Workers and middle-class people...
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