presentation.pptx - Table showing GDP per Capita of\u2026 Compare the growth rates of Latin America to those of Western Europe \u2022 Latin America \u2022 The

presentation.pptx - Table showing GDP per Capita of…...

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Table showing GDP per Capita of…
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Compare the growth rates of Latin America to those of Western Europe. The annual growth rate is 1.75%The economic growth rate is at 3.75Latin AmericaWest EuropeThe annual growth rate is 2.2%The economic growth rate is at 6.08This shows that Latin America in terms of growth rate is lower than Western Europe: There is a 0.45% difference in annual growth rate between the twoThere is a 2.33 difference between the economic growth rates between the twoAs we will explain later there are different views on the reasoning behind this.
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The growth rates of Western Europe on Figure 1 have grown more than that of Latin America since 1950 (experiencing a sharp increase from 4,994 GDP per capita (1950) to 21,793 GDP per capita (2010), which is a true representation of the region as it is mostly developed, unlike the Latin American region, which is mostly undeveloped. Therefore figure 1 shows that overall growth is lower in Latin America than in Western Europe. Latin America only experienced a small increase in growth from 1950 at 2,696 GDP per capita to 2010 with only 7,770 GDP per capita (Figure 1). Here, we can see that Latin America’s growth remained small scale after the depression. This growth has been heavily induced by the richest countries in the Area for example Brazil’s 556.4% growth (1930-2010) in terms of GDP per capita.
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