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The economy of Chile operates as a market economy and is classified as a high-income economy by the World Bank. [27] It is recognized as one of the most prosperous countries in South America, [28] leading the region in areas such as competitiveness, income per capita, globalization, economic freedom, and low levels of perceived corruption. [29]
Chilean (blue) and average Latin American (orange) GDP per capita (1980–2017) Chilean (orange) and average South American (blue): Rates of Growth of GDP (1971–2007) The "Miracle of Chile" was a term used by economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the effects of the economic policies applied by a large group of Chilean economists who ...
In a shock therapy, Chile was drastically transformed from an economy with a protected market, with strong government intervention, into a liberalized, world-integrated economy, where market forces were left free to guide most of the economy's decisions. [114] [118] Before 1973 the role of the state was to promote investment and ...
Chile's economic activity fell 3.1% in January from the same month a year ago, the central bank said on Monday, as a rebound in cases of the coronavirus dragged on the service and manufacturing ...
Chile's President Gabriel Boric announced on Thursday a $3.7 billion economic recovery plan that includes a hike in the minimum wage, subsidies and financing for sectors of the economy still ...
The outcomes of these policies were praised by then Milton Friedman as the Miracle of Chile. Chile suffered 1997 Asian financial crisis. Central Bank of Chile. Due to global The World Bank predicts a slowdown in GDP growth from to 3% in 2021, [4] Current President and billionaire Sebastián Piñera (2015-) Chile Vamos party a series of 2010-2012
After weeks of protests, Chile won't host COP25, the 2019 U.N. climate talks. The move highlights the work we have to do on climate change.
Chile has important ports in Valparaíso, Caldera, Mejillones, Antofagasta, Iquique, Arica and Puerto Montt. Colombia has important ports such as Buenaventura, Cartagena Container Terminal and Puerto Bolivar. Peru has important ports in Callao, Ilo and Matarani. The 15 busiest ports in South America are: Port of Santos (Brazil), Port of Bahia ...