- Latin American countries relied heavily on exports of primary goods such as agricultural products and minerals to foreign markets.
- Foreign powers, particularly European countries and the United States, dominated these markets and controlled the prices of these goods.
- This economic dependence made it difficult for Latin American countries to escape foreign influence and achieve genuine economic sovereignty.
2. Debt Trap:
- Many Latin American countries accumulated significant debts to foreign creditors during the colonial period and after independence.
- As a result, they were often bound by loan agreements and other financial obligations that limited their policy options and made it challenging to invest in their own development without foreign interference.
3. Political Instability:
- Many Latin American countries experienced political instability, authoritarian rule, and internal conflicts after independence.
- Foreign powers often intervened in these countries under the pretext of protecting their citizens and economic interests, further solidifying their presence and influence in the region.
4. Monroe Doctrine:
- The United States adopted the Monroe Doctrine in 1823, declaring that any intervention by European powers in the Americas would be considered an act of aggression against the United States.
- Although initially conceived as a protective measure against potential European colonization, the Monroe Doctrine was often used to justify U.S. interventionism and domination in Latin America.
5. Military Interventions:
- Several Latin American countries faced military interventions and occupations by foreign powers, particularly the United States.
- These interventions aimed to protect investments, suppress nationalist movements, or ensure regional stability in alignment with foreign interests.
- Examples include the U.S. interventions in Cuba, Nicaragua, and the Dominican Republic, among others.
6. Weak Regional Integration:
- Latin American countries often lacked strong regional integration and cooperation, making them more vulnerable to foreign influence.
- Some attempts at regional organizations, such as the Latin American Free Trade Association (LAFTA) and the Andean Community, had limited success and failed to effectively counterbalance foreign domination.
These factors combined to make it difficult for Latin American countries to establish strong and independent nation-states after achieving political independence from colonial powers.
While many of these countries eventually gained greater autonomy and sovereignty in the 20th and 21st centuries, they still face challenges related to foreign influence and power dynamics in the global economy and political arena.