Economic Dependency in South America
Definition
Economic dependency in South America refers to the reliance of these countries on foreign nations for economic support, often due to a focus on exporting a limited number of resources.
Related terms
Monoculture: The cultivation or production of a single crop or product in agriculture or industry.
Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers and exploiting it economically.
Globalization: The process by which businesses or other organizations develop international influence or start operating on an international scale.
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