Final answer:
Latin American countries faced economic challenges and social reform movements during the early 20th century, leading to shifts in political and economic strategies.
Explanation:
Latin American countries experienced economic challenges due to changing global circumstances, leading to a decline in their financial status. The elites co-opted public rhetoric to align with urban workforce interests, ushering in modest reforms. A shift towards nationalism and an emphasis on industrial self-sufficiency emerged to counter an over-dependence on agriculture.
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