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There exist three phases that led to the emergence of the Latin America. The first phase occurred between 1492 and 1570, where the colonial administrators established themselves. From 1570 to 1700, the colonial society and the Latin America’s economy reached its maturity. By 1600, most of the Indian empires in Latin America had been destroyed, and the colonial administrators introduced slavery into the region, which allowed Peru and Mexico to be the central points of Spanish settlement. Portugal and Spain were popularly known for being more urbanized as compared to the other parts of Western Europe, and they transferred their way of life to the New World, Latin America. These two nations attempted to modify themselves over in the mold of nobility from their colonies. They established large plantations in the colonies, created new colonial elites and instituted the natives population as the serf. Moreover, the Patriarchal society from the Old World which was driven towards the change of the New World, together with the state and the Church were identical to the system used in the Iberian Peninsula institutions. Spain was the earliest European country to reach the Americas in 1492, and they located and conquered the lands owned by the great aboriginal people and all the mineral resources. They continued to immigrate in force, thus creating a far-flung, enduring network of new colonies. Colombus was the first Spaniard to discover the land of Americas, having hit upon the Hispaniola Island in 1492. He personally wanted to conceptualize the Italian-Portuguese maritime tradition in the area, but the Spaniards immediately started moving towards their own traditions. There
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