Question

Question 4 1 pts Countries in the Southern Cone of South America, including Argentina, Brazil, Chile, and Uruguay, have begun a major transformation to advance their economic standing by manufacturing products as opposed to solely exporting resources to other parts of the world. For example, in Brazil, the government has privatized their mining business and created several companies to manufacture raw materials that are essential for the creation of infrastructure to support additional expansion. Furthermore, in Argentina, the government has built more facilities to support the production of Yerba Mate, a popular herbal spice used to create tea-like drinks within the region that has recently been replacing coffee. These are just two examples of South American advancements in the global economy, many more countries are starting to grow and expand their economies as well. How will the developments in these emerging markets impact their ability to compete in the global market? O These occurrences increase the countries' individual manufacturing processes, which allows them to diversify their market instead of only relying on the exports of raw materials as their means for economic growth and stability. O These developments create jobs through the expansion of infrastructure to support their manufacturing endeavors. All of the aforementioned countries could establish a unified coalition in order to increase resource allocation amongst each emerging market and ultimately optimize their economic growth Create a joint venture between the Yerba Mate manufacturers and another global company with a similar strategic vision and consumer base to expose the product to as many people as possible and thus create a higher demand for the product, in the end stimulating the economies of these nations.

Answer 1

It has been stated that many countries of South America have been transforming their economies. They are moving away from being sole exporter of raw materials to manufacturer of goods and services utilizing the natural resources.

These endeavors will strengthen the manufacturing processes in these countries and would able them to diversify their market and export basket which enable them to increase their foreign trade in diversified manner thereby helping them to achieve economic growth and stability.

Hence, the correct answer is the option (1).