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galben [10]
4 years ago
12

By the 1970s, Latin American governments attempted to maintain their failing economies by borrowing from abroad, particularly fr

om banks in Europe and the United States
a. true
b.false
Social Studies
1 answer:
cluponka [151]4 years ago
7 0

a. true

Explanation:

  • For the post-war generation, the world financial system was, by modern standards, extremely resilient to crises - probably because most countries were suppressing cross-border capital flows, so international lending and credit were limited.
  • However, in the late 1970s, deregulation and increased banking aggression led to a flood of money in Latin America, followed by what was called the "abrupt trade" in 1982 - and a crisis that caused decades of economic stagnation.
  • Latin America eventually restored growth.

Learn more on Latin America on

brainly.com/question/496958

brainly.com/question/959834

brainly.com/question/2125314

#learnwithBrainly

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