In the
Bulletin of the Pan American Union, there was a growing concern about the
unfavorable balance of trade between the United States and Latin America. The agreed
upon situation was that Latin America would produce primary goods and export
them to the United States, with the profits from the exports, they would import
manufactured goods from Europe. Trade with Latin America was seen as a money
drain on the United States. Examples of this opinion can be found in experts of
the time like the former director of the Pan American Union before John
Barrett. He claimed that the United States only accounted for one fourth of
Latin American trade and that Latin Americans need to start buying manufactured
goods in the United States.
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