Puerto Rico Essay Example | Topics and Well Written Essays - 750 words

Puerto Rico - Essay ExampleIts original inhabitants were Aboriginal people. Christopher Columbus discover it. It was a Spanish colony who transformed its culture and physical landscape. European knowledge, customs and traditions including Roman Catholicism, Spanish language, agriculture, stone constructions and the printing presses.In the present day, its people are American citizens and the region has a topical anesthetic constitution. They elect their own governor although they lack voting members in Congress and is a subject of the plenary jurisdiction of the United States under the Puerto Rico Federal Relations Act of 1950 (Luis, 2009).Its parsimony is a high-income economy and the most competitive in the Latin America. This economy is mainly driven by the manufacturing and service industries. The manufacturing pains comprises of pharmaceuticals, textiles, petrochemicals and electronics while the service industry is of finance, insurance, real estate and tourism. The Unites S tates controls its foreign affairs exerting trading restrictions especially in its shipping industry. It is also a small island lacking natural resources and depends mostly on imports (Duany, 2003).Puerto Rico experience recession from 2006 to 2011 and again in 2013. However, it has managed to maintain a relatively low inflation in the departed decade at the same time maintaining a purchase power higher than 80% of the world. It is unable(p) to become a self-sufficient and self-sustainable economy since it has a public debt equal to 68% of its gross internal product (Sanchez, 2009). It is, therefore, poorer than other American states, even Mississippi, with 41% of its population below the poverty line.Puerto Rico does go in in globalisation through activities such as consumerism of society, attracting industries, computers and through its tourism program. On the other hand, globalization has greatly affected Puerto Ricos natural environment. The future of the country is greatl y jeopardized by the