Chile’s economy is quickly growing and becoming more
prosperous than ever, writes Luis Andres Henao in his article ‘Chile’s Pinera
Says No Risk of Economy Overheating.’ Being the president of Chile, I trust
that Sebastian Pinera knows what he is talking about. Not only is Chile the
number one copper producer for the world, but they are also growing strong when
it comes to the mining industry. I have learned in this sociology class that it
is best for a country if they can be producers of more than one resource. The
finance minister has mentioned that Chile might take measures to avoid having
the economy expand so rapidly. If they expand too quickly they run into the
issue that productive capacity can’t keep pace with demand. This is an issue
with many other countries. Pinera is quoted as saying, "The bulk of
investment in Chile is financed through Chilean savings and only a small part
with foreign savings, besides that, the current account deficit is being
financed not through debt but through direct foreign investment…" A
healthy economy is the thing to aim for, even if it takes time. Pinera is
quoted again, “"constant concern of not overheating the economy, I'm
convinced that the Chilean economy is growing healthy, strong and in a
sustainable way, and that it can continue to grow at this rhythm." Despite
such wonderful economic growth, the country has one of the sharpest gaps
between rich and poor. A country is often defined by its numbers of poor
people, and Chile has quite a few. Hopefully as the economy continues to grow
successfully this gap will narrow. It is in the best interest of every type of
Chilean that the gap narrows.
8:07pm
4/3/13
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