Colombia: Difference between revisions
Liberal victory of 1924 added to the Colombia page.
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JVFSegundo (talk | contribs) (Liberal victory of 1924 added to the Colombia page.) |
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The aftermath of the war saw Colombia becoming ingratiated with Britain. British influence in Colombian politics and economics grew to unprecedented levels. This reignited the Colombian economy, and large Anglo-Colombian corporate firms started to operate within the nation.
==== The Liberal Renaissance Era (1924-) ====
===== 1924 National Victory =====
After the end of the First Colombian-Peruvian War (1890), the Conservative Party was able to obtain enough popularity to stay in power for the next almost 40 years. With its economic ties close to Britain, the country’s export of raw materials and slow growing industrial sector. The aftermath of the Second Colombian-Peruvian War (1917-1919), on the other hand, brought to Colombia an unprecedented economic growth, especially in the oil and rubber sectors. But the skyrocketing Colombian economy soon reached its peak, and started its descent only two years later. The European Economic Crisis (1922-1928) hit hard the raw material based economies of most South American countries, and Colombia wasn’t an exception.
The crisis would mark the start of the end of the almost half century long continuation of conservative governments. The disastrous economic policy taken during the early crisis period where tons of products such as rubber, sugar and coffee were overproduced, sending the prices down and devaluing the Colombian currency, as the European colonial powers, Colombia’s major economic partners, started to shift to their closed markets, and hundreds of thousands lost their jobs.
The 1924 national election saw the Liberal Party rising to power with ease. With promises of fixing the economy and work to develop an “independent Colombian economy”, the party managed to elect a president and gain strength in the parliament.
== Government and politics ==
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