Thursday, June 07, 2007

Chilean economic growth

The Chilean economy is exceeding expectations, with average growth of over 6% for the year.

Bachelet will get criticized anyway. For the left, she is not leftist enough. The right, meanwhile, is making lots of money, but feels she is an obstacle to making even more.

5 comments:

mike a,  1:57 PM  

The common refrain is that with copper prices at an all time high, the economy should be growing at a far greater rate. That is a tough point to counter. This country should be in a boom. Instead, we have a government whose greatest claims to fame are 1) firing half the ministers every six months and 2) an ingrained fear of confronting or criticizing Mr Chavez.

Blaming the "private sector" for the woes of Transantiago basically shot her credibility with the business community , considering that it was gross mismanagement by her administration (and Lagos) that created the current mess.

Greg Weeks 2:05 PM  

The argument that the grass should be greener is impossible to prove. At this point, it is hard to imagine any growth rate that would satisfy her critics.

KA 10:19 PM  

greg, you might find this article interesting

http://www.economist.com/world/la/displaystory.cfm?story_id=9303959

Greg Weeks 6:31 AM  

It is certainly a reminder that economic growth alone doesn't mean much.

Boli-Nica 2:20 PM  

Chile's growth owes a lot to its sound fiscal and monetary policies, supported by a political consensus, and run by capable people.

IT is also helped that Chile has promoted diversification of its export base for more than 50 years, and is not entirely dependent on one commodity.
In addition, it has a long tradition of social programs.

Bachellet just yesterday claimed that the Concertation governments have reduced poverty from 38.6 at the end of the dictatorship to 13,7%.

If they have, it would be impressive, marrying economic growth with real gains over poverty.

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