Latin america industrializing in 20th century y argentina was doing well y raw materials were valuable y ww1 disrupts economy: difficult to trade during war. Idea is to end dependency on industrialized world: want to industrialize because they want to be a more modern country. currently great industry is in producing bananas. latin america has a lot of cheap labour. not only in material things but in people s mentality and how they thought of things. capital american revolution came from things they made themselves. not enough capital in latin america, so they need to borrow to be able to invest it into their attempt to industrialize. need to ask other countries to invest into them y plan: to do it step-by-step: manufacture things that people will need to buy. need factory and modern technologies within in. need effective communication to be able to run efficiently.