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Around the early 1920s the United States starts investing heavily into the Latin American. A large part of the Latin American export industry fell into U.S. hands. Many Latin Americans resented U.S. contrrol and viewed them as a imperialist power.
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With the Great Depression hitting Exports fall 50% below the original figure. There was less demand for Latin America exports including coffee, sugar, and metal, crippling the economy.
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With depression hitting, it devastated Brazil. The depression hurt the cofee indutry, which was brazils main export. With this, it lead Getulio Vargas to power.
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Because of the great impact the Great Depression had, domestic instability caused by economic crisis lead to the creation of many military dictationships in countries such as Argentina, Brazil, and Mexico.
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The Argentine Army overthrows president Irigoyen fearing the rising power of industrial workers and reestablished the power of land owners. They did not want industrial workers to take power who were using strikes to try to improve their condition.
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To make relationships better with Latin America FDR created the Good neighbor policy, rejecting the use of military force in Latin America.
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Mexico becomes a democratic government, with the Industrial Revolutionary Pary, or the PRI controlling major groups within mexican society. The people got to elect the groups president. This group will bring new change to Mexico, with Lazaro Cardenas.
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For the first time in 30 years the U.S. withdraws from Latin America, making Latin America free with no American troops in Latin America.
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In 1934 Lazaro Cardenas becomes president in Mexico and brings new change to Mexico. First he gave 44 million acres of land to landless Mexican peasants. Then later he stands up aginst the United States.
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After a dispute with foreign owned oil companies over worker wages, the Lazaro Cardenas government sezies control of the oil fields, sett up the PEMEX, a mexicn oil company. PEMEX didnt do well at first, but it was a sign of Mexian independence.
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Getulio Vargas Makes himself Dictator of Brazil, and made brazil into a authoritarism with some fascist like features. Politcal parties were out lawed and civil rights were restricted. He had complete control. He did bring economic Stability to Brazil through steel and oil.
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The Brazilian government sets up a steel industry and sets up a company for oil, making it Latin Americas chief industrial power in 1945.
