Economy of South America centuries. This can be explained by South America´s high concentration on primary commodities as well as the state of the educational system and institutional structure, some of which are still related to its colonial past, others to recent political developments. It was only from the 1990s when countries in South America switched over to the system of Free-Market economy. This eventually pulled countries in South America out of the debt crisis. Now, major economic activities include agriculture, industry, forestry, and mining. In 2016, four countries, which include Brazil, Ecuador, Argentina and República Bolivariana de Venezuela experienced decline in output. Other
History of Latin America there were several military incursions into Central America and the Caribbean, mostly in defense of commercial interests, which became known as the "Banana Wars." The greatest political upheaval in the second decade of the century took place in Mexico. In 1908, President Porfirio Díaz, who had been in office since 1884, promised that he would step down in 1910. Francisco I. Madero, a moderate liberal whose aim was to modernize the country while preventing a socialist revolution, launched an election campaign in 1910. Díaz, however, changed his mind and ran for office once more. Madero was arrested on election day