GEOG 102 1nd Edition Lecture 6 Outline of Last Lecture I. Middle and South America Physical PatternsA. LandformsB. ClimateII. Human/Environment InteractionsOutline of Current Lecture III. Middle and South AmericaA. Colonialism and its legaciesB. Phases of economic developmentC. Curse of the Inca GoldCurrent Lecture Treaty of Tordesilla of 1494- Divide Middle and South America at approximately 46 degrees West longitude- Spain= West- Portugal= EastHuman Patterns Over time- The legacy of underdevelopment - 30% poverty rates, small elite classo 19th Century anti colonial revolts replaced far away elites with local onesThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Economies: export oriented- Environmental destruction a major concernPhases of Economic Development- Early extractive phase- European conquest: early 20th century- Mercantilism- No stable local economies, so the flow of raw materials went to Europe and beyond (paid low wages and in consequence people invested into outside businesses)- Import substitution and Industrialization phase (ISI)- Goals:o Keep money and resources wothin the region o Foster economic self sufficiency- Encouraged local production, tariffs on imports, and government industry.- Structural adjustments and marketization phase- Privatization: selling government owned industry to private investors- Marketization: development of free market economy/free trade- Globalization: increase in interregional connections- Export processing zones AKA free trade zones o Assembly for foreign exportso “Maquilladoras”o Assembly of factories on the US and Mexico borderEnd to Colonialism- Western ownership of extractive industries- Neocolonialism: efforts to control economic and political affairs in other