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The Emerging Markets Handbook: An analysis of the investment potential in 18 key emerging market economies by Pran Tiku

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Chapter 21: Chile

Overview

Chile, which endured a long and dark dictatorship under military strongman Augusto Pinochet from 1973 to 1990, made a life-changing decision after the military rule ended. The country had to decide whether to continue on the path of Marxist policies or chart a new course of market-driven reforms. Luckily for Chile it did change course and implemented reforms based on the advice of many free market Chilean and American economists, thus gradually freeing itself from its Marxist past. The free market reforms continue to be the basis for its success today. Chile is now a capitalistic society with a limited government and it thrives on free trade and democracy.

Quick history

Ten thousand years ago, migrating peoples ...

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