Why do so many Latin American economies rely so heavily on exporting cash crops like sugar or coffee?

Question

Quizplus · Accepted Answer

During the colonial period, European powers controlled much of the economy in Latin America, focusing on extracting resources like gold and silver. This led to a lack of investment in diverse industries, and the region primarily continued to rely on exporting raw materials like cash crops instead of transitioning to value-added industries.

Why Do So Many Latin American Economies Rely So Heavily