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Chile is by all odds the best economic success story in Latin America today. The real miracle is that a military junta was willing to let them do it." [30] Friedman said the "Chilean economy did very well, but more important, in the end the central government, the military junta, was replaced by a democratic society. So the really important ...
In the first half of the 20th century Chile suffered severe economic recessions including the Great Depression. This period saw the rapid urbanization of the country, and a state-led partial "industrialization" that began in 1939. Large-scale copper mining replaced nitrate extraction as the country's main source of wealth.
After the socialist reorientation of the economy during the presidency of Salvador Allende, economic sabotage by the Nixon presidency, [2] and the subsequent Chilean economic crisis which reached its zenith during 1973, [3]: 35–45 the Armed Forces following the orders of the military junta and with the support of the United States government executed a coup d'état and demobilized the forces ...
The economy of Chile operates as a market economy and is classified as a high-income economy by the World Bank. [28] It is recognized as one of the most prosperous countries in South America , [ 29 ] leading the region in areas such as competitiveness , income per capita , globalization , economic freedom , and low levels of perceived ...
The Latin American economy is an export-based economy consisting of individual countries in the geographical regions of North America, Central America, South America, and the Caribbean. The socioeconomic patterns of what is now called Latin America were set in the colonial era when the region was controlled by the Spanish and Portuguese empires ...
Chile, [a] officially the Republic of Chile, [b] is a country in western South America.It is the southernmost country in the world and the closest to Antarctica, stretching along a narrow strip of land between the Andes Mountains and the Pacific Ocean.
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Following a series of economic reforms implemented from the mid-1970s onward Chile's economy bounced back and boomed. The boom ended in the economic crisis of 1982 . The Latin American debt crisis had a devastating impact on every Latin American country, but Chile was hit hardest with a GDP decline by 14%, while Latin American GDP diminished by ...