Business in Latin America Central America (4th part) Week 8

so to continue.

We were in Costa Rica, so e.

I was saying that multinational companies, having moved moved to

Costa Rica to take advantage of the stable economic conditions,

the low labor costs on supportive environment for its employees.

Uh, I don't know if you know the California based

Intel Corporation, but they have a large microchip manufacturing side

in Costa Rica on this factory.

Contributes, like, really like in a really big manor.

M toe the country's economy.

So the tropical climate on a stable economy of Costa

Rica also attract not just the companies but also the

tourists from us on.

Also, M attracts people who is looking for a place

to live after retirement.

So hasta Rekha has brought with heavily to finance social

programs, education infrastructure and relies on tourism, outside forces and

economic development to help pay the bills.

U M.

Because they have a lot of political stability on high

standards of living livings.

Sorry on well development social benefits system.

They were like like totally your separate from Central America.

They're really different from their neighbors.

M through the government, sustained social spending almost 20% of

GDP and only on only Costa Rica has made a

tremendous progress toward achieving school, of providing universal access to

education, healthcare, clean water, sanitation and electricity.

So the government is doing right over there on Dhe.

It's helping a lot the country.

So Costa Rica's poverty rate is lower than in most

of Latin American countries, but it has tell at around

20% for almost two decades, so they have to start

doing something toe.

Keep decreasing that because they have been there in that

percentage for a long time.

So they have to start trying to change a little

bit the dynamic so they can keep the decreasing that

percentage. Costa Rica is a popular region now immigration destination,

because off its job opportunities and social programs, remember what

I was talking about Nicaragua and and the rest mainly

Nicaragua, that they that they emigrate to Costa Rica for

the harvest.

So almost almost 9% of the population is foreign born

him good Nicaraguans compressing nearly three quarters off the foreign

population. Remember that I said around 75% off.

The outsiders who lives in Costa Rica are from Nicaragua.

I am.

They usually go there.

The Nicaraguans goto Costa Rica illegally or overstayed their visas.

Yeah, so that's like a issue between those two countries

and less than 3% off Costa Rica's population lives abroad.

The majority of these 3% have settled in the United

States after completing university degree or in orderto work work

in a highly skilled film.

The next country is Valley say it's a little bit

different off the other ones because remember that Bill is

a waas.

Uh, I am colonial for like a British cologne.

So Billy, same.

The name is Billy said.

The capital is Belmopan has an AR area off 22

1000 square kilometers with a population off less than 400,000

m. The Independence watch the September 21 off 1981 and

that the independence obviously was from UK because they were

a colony from U.

K. They have borders with Guatemala and Mexico, and it's

the only country in Central America without a cost line

in the North Pacific Ocean.

So belly say waas, the site off several margin cities

states until they're the decline Sorry at the end of

the first millennium.

So the British and Spanish this put this region in

the ninth in the seventies, in the 17th and 18th

18th centuries and and it formally became a colony of

British Honduras in 18 62.

This territorial disputes between the U.

K on Guatemala delayed the independence off Melissa until 1981.

Guatemala refused to recognize the new nation until 1992 on

the two countries are still involved in a non going

the border dispute.

Both nations have voted to send that it's put to

final resolution to the International Court of Justice.

So because they obviously know none of them is gonna

yeah, like, open the mind and say, Okay, I don't

want both of them want the best for their territory.

So it's really difficult to become toe to reach, uh,

a solution.

So they decided to do that.

Belisa border the Caribbean Sea and has a hot tropical

type A client.

It is a small, small in size about the size

off El Salvador, but also it's a small in population.

They have Onley.

About 300,000 people believe lingua franca is English, but the

Spanish is increasing in usage because off immigration it has

the longest coral reef in the Western hemisphere and has

promoting ecotourism as I mean off economic development to capitalize

this aspect am.

They have also a lot of natural disaster.

So after hurricanes, I am Ballis Awas.

Bill is a city that was the capital in a

11 moment off the history waas in a in a

cost in the coast.

So they, after somewhere against the the country, shifted its

capital 45 miles inland to Belmopan as a protective measure.

So Belmopan is a small, centrally located city with Onley.

About 10,000 people on.

It is called a forward capital that it's a term

to describe a capital city off a country that has

been moved to better serve or protect the country's interest.

So they have to move the capital to this Belmopan

city. And the tourism has become the main state of

the economy, especially the ecotourism, and the immigration continues to

transform, believes populations population.

About 16% of Alison's live abroad um, immigrants constitute approximately

15% off the police population.

The mestizos have become the largest ethnic ethnic group on

beliefs, now has more native Spanish speaker than English or

cruelly speakers.

Despite English being the official language and the immigration accounts

for an increasing share of the lists.

Population growth rate.

They have bean having, uh, immigration from their neighbors.

No, no, like Guatemala, El Salvador.

So So they have part of the growth rate of

the population is part is this, um immigration farm?

Now let's go with the last one.

The last one is Panama.

The name is the Republic of Panama.

The capital is Panama City.

They have an area off 75 1000 square kilometers with

a population of more than three million.

The independence from Colombia.

Remember that I talk a little bit that Panama stayed

with Columbia.

So the in November 28 off 18 21 they got

independent from Spain's, but until November 3rd of 1903 they

got independent from Colombia and their borders with Colombia and

Costa Rica.

About 14% of the population of Panama has West Indian

ancestry. On it is a strategic location on Eastern End,

off its most forming a land bridge connecting North and

South America.

On that controls Panama that links North Atlantic Ocean being

via Caribbean Sea with North Pacific Ocean so that, like

the link between the two oceans the North Atlantic Ocean

with the North Pacific Ocean on Dhe.

That's something like really important.

We will see this in a in a few seconds.

I am so okay.

Remember that I said that The first Ellen Waas in

Panama, the first element off the Spanish Waas in Panama,

Panama broke with Spain in 18 21 on joined in

union a union with Colombia, Ecuador on Venezuela named the

republic off Grand Columbia when the later dissolved in 18

Terry Panama remained part of Colombia.

Okay, so to travel.

But on it was like a specific, like, really important

on a specific location that it was important for some

people. So because to travel from the Atlantic Ocean to

the Pacific Ocean ship ship, the ships have to sail

around the southern tip off South America, which was time

consuming and also difficult to negotiate in some places.

Toto Ocean currents.

So France made an agreement with Colombia to purchase a

strip of one in Panama, 10 miles wife on about

50 miles long to build a canal.

The French had experience in building the Suez Canal between

the Red Sea and the Mediterranean on apply their skills

in Panama.

But the tropical climate on swampy terrain quickly defeats the

friends, the French workers with malaria, yellow fever and other

tropical diseases so they couldn't complete uh, the project of

the Canal Panama In the United States.

There was an increasing need to shorter this shipping distance

between California and Egypt so before the United States to

cover the canal project on after the French Abandon It

US back in Panama toe, toe, toe in depends from

Colombia in 1903 and they signed a treaty with the

US allowing from the for the construction off a condom

off canal on.

Also, give the U.

S the the sovereignty over a strip of land on

either side off the structure that it was called the

Panama Canal Son.

So understanding of the problems that the French have encountered

the United States 1st, 1st and civil engineers and medical

professionals toe Panama, which would drain the swamps and apply

tons of chemicals such as insect for the mosquito population.

So these chemicals were later found to be toxic to

humans, but work well in eliminating the mosquito problem.

So the canal Panama, the Panama Canal, salary was finally

completed by the United States on opened for business in

1914 after a tremendous difficulties.

A That they have, uh, overcome am Panama is a

country off demographic and economic contrast.

Has one of the fastest growing economies in Latin America

on dedicates dedicate substantial funding to social programs, poverty.

It's still part of the country, and they have also

inequality, like in the country.

But with this, uh, Panama Canal, they have been able

to improve a lot economy in in the sun On

also, what they have done is toe not just toe

take advantage of the canal, but also to create a

free trade son around the canal, the canal.

So they have been ableto really create something beef for

for trade in the sun on dhe to improve the

economy of the country.

So they the canal just to just to finish it

really is a marvel of engineering.

Uh, the President Carter's the president of the United States.

The President characters was the one toe assign agreement to

return the Cannell on the candle son to Panama in

2000. They discover that the part in 2000 there was

a lot of people that wasn't like that from the

United States that do not agree with it.

But they said they never gave us toe.

Give us, tow us.

They just try to They gave us the opportunity to

construct it.

Okay. They establish also a free trade zone next to

the canal for international commerce.

Panama City has also become a half off international banking

on on dhe that has bean a main economic center

for the region.

Asai was saying this has helped a lot to the

economy off these country on that help to give better

opportunities, a better circumstance to the people off this country.

So we'll stop until here.

So, uh, we're here.

So next class, we will see ah little bit more

about trade on economy off these countries, e I hope

I am.

Everything is clear.

If you have any questions, please let me know on

dhe checked activities for this week.

Thank you.

Business in Latin America Central America (4th part) Week 8

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