Given that the population is being affected differently by the rise in inflation, poverty and inequality continue to be major issues.
What is South America's economy based on?
South America has a rich mineral heritage, a variety of agricultural products, and an abundance of freshwater. On three bodies of water—the Caribbean Sea, Atlantic Ocean, and the Pacific Ocean—it also has thriving fisheries and ports. The export of natural resources is the mainstay of the continent's economy.
Additionally destroying South America's distinctive biomes are urbanization and industrialization. A square foot of the Amazon rainforest is burned every second. For the timber industry, trees are cut down, and towns, ranches, and farms are built on the rainforest plains.
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