Globalization In Chile Essay

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Introduction
For this assignment on Globalization, the country that our group chooses is Chile. There are a few reasons why we choose Chile as our selected country for this assignment. All of these reasons make us want to know more about Chile especially on the globalization. There many statements and rumors state that Chile is the globalization star of country in Latin America.
The reasons are:
1. According to Ernst and Young, Chile is the most globalized economy in Latin America. (Guion, 2012)
2. Globalization in Chile: A Positive Sum of Winners and Losers. (Tokman, 2010)
3. Chile was an early starter on opening trade and financial services in the early seventies. (Tokman, 2010)
Background
Chile has the driest desert in the world along …show more content…

However, under the center-right Alianza coalition, which took power in 2010, President Sebastian Piñera has raised corporate taxes and personally intervened to stop the construction of a coal-fired electric plant that had cleared all regulatory hurdles. None of that has satisfied the left, and large street protests have become an ongoing problem for the government. Despite Piñera’s clumsy political leadership, Chile still has the region’s best reputation among foreign investors. It is the first South American country to join the Organization for Economic Co-operation and Development. Chile is the world’s leading producer of copper. The economy is very open to imports but is also an export powerhouse in minerals, wood, fruit, seafood, and wine. (Kilburn, 2014)
Rule of Law
The constitution provides for an independent judiciary, and the courts are generally free from political interference. In the past decade, the Chilean Congress passed significant anti-corruption, transparency, and campaign-finance laws that contributed to Chile’s reputation for good governance. Property rights are strongly respected, and expropriation is rare. Crime rates have declined significantly in the period from 2009 to 2013. (Kilburn, 2014)
Limited …show more content…

Minimum wage increases have exceeded overall productivity growth in recent years. Government price supports for agriculture are less than 5 percent of total farm receipts, one of the lowest rates among OECD countries. (Kilburn, 2014)
Open Markets
Chile has a 4 percent average tariff rate. It recently joined the Pacific Alliance, which, if counted as a single country, would be the world’s ninth-largest economy. Foreign investment is welcomed. The dynamic financial system facilitates high levels of bank usage and provides relatively efficient access to financing. Reforms to improve capital market liquidity and enhance access to financial services for small companies have progressed gradually. (Kilburn, 2014)
TORY EFFICIENCY
Chronology
On September 18, 1810, Chile broke from Spanish rule, declaring their independence (although they still were theoretically loyal to King Ferdinand VII of Spain, then a captive of the French). This declaration eventually led to over a decade of violence and warring which did not end until the last royalist stronghold fell in 1826. September 18 is celebrated in Chile as Independence Day.

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