Banana Boom

Banana Boom

THIRD REPUBLICAN PERIOD

D. Let’s learn! New words.

Incomes: noun. n. earnings.

Agrarian: adjective. adj. farming.

Economically: adverb. adv. with economy. 

Capitalism: noun. n. economic system maintain chiefly by private individuals.

Currency: noun. n. money.

Depleted: adjective. adj. decreasing.

Agreement: noun. n. accord.

Linkage: noun. n. relation

 

E. Let’s practice! 

Classwork # 1

 

1. Number the events of the Banana Boom in the blank.

 

_____________ The primary agrarian export model was depleted.

 

_____________ The Capitalism advanced intensifying its linkage to the World Wide Marketing.

_____________ Accelerated modernization emerged.

 

_____________The Cartagena Productivity Agreement signed in 1969 by Colombia, Chile, Peru and Ecuador.

 

_____________ The primary necessity product prices pitched high and the currency got devaluated.

 

_____________ At the beginning of the sixty century banana export felt and precipitated an economic crisis.

 

_____________ Through the oil exploration, developmental tendencies deepened. 

A. Let’s discuss it!

1. What do you think about the fact that most of the time we have been depending of one single product such as banana or petroleum? 

C. Let’s read it!

At the beginning of the sixties the percentage of the banana export felt and a crisis got precipitated. The products of primary necessity, which had been stable for a decade, pitched high and the currency got devalued, economically shaking the country. The primary agrarian export model in force since the late nineteenth century was depleted.

After that, the country entered into a process of accelerated modernization. Capitalism advanced throughout the economy of the country and intensified its linkage to WorldWide Marketing. When the oil exploration started, developmental tendencies deepened and came up to their greatest expression in the seventies.

Almost immediately was initialized the process of sub regional integration because of the Cartagena Productivity Agreement signed in 1969 by Colombia, Chile, Peru and Ecuador.

Percentage of the Banana exports from 1959 to 1969