Global inequalities are increasing but alternative economic models reduce this ALTERNATIVE ECONOMIC MODEL IN ECUADOR

Question 1

What economic policies has Ecuador adopted since 2007?

Answer 1

More socialist policies for equality

Focus on community wellbeing over individual success

Question 2

What is the ‘buen vivir’ idea adopted in 2008?

Answer 2

‘Good living’ that emphasizes community wellbeing over individualism

Challenges capitalist neoliberal ideas

Question 3

How did the Ecuadorian government respond to the earthquake recovery?

Answer 3

Increased public spending on services and temporarily raised taxes

Aimed at funding the recovery efforts

Question 4

What action did President Correa take against a US oil company?

Answer 4

Sued for environmentally degrading the Amazon

Highlighted the commitment to environmental protection

Question 5

What significant change occurred in poverty rates between 2006 and 2016 in Ecuador?

Answer 5

Poverty rates halved

Reflects the impact of socialist policies during this period

Question 6

What economic impact did Covid-19 have on Ecuador?

Answer 6

Entered recession and increased poverty levels

Highlighted vulnerabilities in the economy

Question 7

What plans did the Ecuadorian government implement by 2021 to address the economic impacts of Covid-19?

Answer 7

Plans to improve socio-economic conditions and create new opportunities for citizens

Aims to adapt to the challenges posed by the pandemic