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Economic disparity in Latin America was influenced by factors such as lack of industrialization, colonial economic legacy, and absence of democracy.
Economic disparity in Latin America stemmed from several factors. One significant reason was the historic lack of industrialization in the region, which led to the absence of a strong urban middle class. Additionally, the legacy of economic institutions from the colonial period, focused on extracting raw materials, further perpetuated economic inequality. Furthermore, the lack of democracy in many Latin American countries until the late 20th century also contributed to power struggles and economic disparities.
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