Chile: Latin America's Market Leader

A miner walks around Chuquicamata, the town located next to the largest open-pit copper mine in the world, some 1600 km north of Santiago, Chile.

[Axl]

Don't try to sugar coat this country. It is still very much a third world banana republic.

The average wage is about $400 per month. There is much socioeconomic inequality. Opportunities are very very limited for those of a disadvantaged socioeconomic background, or even the avergae chilean. A few Chileans are benefitting at the expense of the rest.

There are many many problems beneath the surface.

[porbass]

Your are wrong. You don´t know anytihing about Chile....

Axl wrote:

Don't try to sugar coat this country. It is still very much a third world banana republic.
The average wage is about $400 per month. There is much socioeconomic inequality. Opportunities are very very limited for those of a disadvantaged socioeconomic background, or even the avergae chilean. A few Chileans are benefitting at the expense of the rest.
There are many many problems beneath the surface.

[Avenger]

porbass wrote:

Your are wrong. You don´t know anytihing about Chile....
<quoted text>

I agree! Chile is probably one of the most developed economies in S. America. It has a very good low corruption score according to Transparency International. There are a lot good things Chile can be proud off. It's political and economic institutions are great. It also known as the "Latin Tiger" because its higher than average economic growth rate. You can thank the "Chicago Boys" for transforming the Chilean economy.

[Thomas Santiago CL]

Avenger wrote:

<quoted text>
I agree! Chile is probably one of the most developed economies in S. America. It has a very good low corruption score according to Transparency International. There are a lot good things Chile can be proud off. It's political and economic institutions are great. It also known as the "Latin Tiger" because its higher than average economic growth rate. You can thank the "Chicago Boys" for transforming the Chilean economy.

Wait a minute, it's not because there is no corruption and economy is good because of copper that there is no problem. Average wage is 400$.
10 % of the population have 90% of the money.
A Chilean friend is speaking english/french and she is earning 500$.
And politics is still closely associated with church. The left wing government can't do much about anything as the money come from the big leader. Mines are ruling the country.

[Jorge]

This is true. Just come back from a visit to Chile and I was amaze by the class difference. I was in Antofagasta my old town (I live in the UK now) there is no middle class anymore. In Chile today you are either reach or poor.
If you are involved with the mining industry you are ok if not you will struggle economically.
Antofagasta is one of the most expensive cities to live in Chile. My father is 81yrs old and in received of a state pension of 50,000 al mes!!

[Marr]

60% of Chile'population leaves in Santiago. I can not think of the areas Centro, Providencia, Vitacura, Las Condes as areas with 400 dollars income. And prices across the Metropolitan region are on par and even higher then in N. America. At the same time I do not see people starving. So, what is the point with 400 dollars income. I was in Buenos Aires recently and even there people are making a living. Chile is worse?

[Andrez Lopez]

Jorge wrote:

This is true. Just come back from a visit to Chile and I was amaze by the class difference. I was in Antofagasta my old town (I live in the UK now) there is no middle class anymore. In Chile today you are either reach or poor.
If you are involved with the mining industry you are ok if not you will struggle economically.
Antofagasta is one of the most expensive cities to live in Chile. My father is 81yrs old and in received of a state pension of 50,000 al mes!!

I checked out the conversion. 50,000 Chilean pesos is only US$85.75. How can a person live on $85.75, you guys on the defensive tell me.

I think I should have a winter home in Chile, that is, when it is cold here spend their summer there.

[Carla]

Jorge wrote:

This is true. Just come back from a visit to Chile and I was amaze by the class difference. I was in Antofagasta my old town (I live in the UK now) there is no middle class anymore. In Chile today you are either reach or poor.
If you are involved with the mining industry you are ok if not you will struggle economically.
Antofagasta is one of the most expensive cities to live in Chile. My father is 81yrs old and in received of a state pension of 50,000 al mes!!

This is not true. I live in Chile and i'm a middle class citizen and I have a pretty good life, so I have no idea of what you're talking about.
Seems like you didnt see the real picture.

[Ian - New York]

I am wondering what basis you have to label Chile a "banana republic" or a "third world country."? I think it is obvious that you have never been to the country, as if you had, you would realize that it is most definitely not "third world". In many aspects, including lack of corruption, business freedom, property rights, it consistently rates higher than most European countries. Moreover, there is universal health coverage and state education, something that the US lacks. Do your research before you make such blanket baseless comments.

Axl wrote:

Don't try to sugar coat this country. It is still very much a third world banana republic.
The average wage is about $400 per month. There is much socioeconomic inequality. Opportunities are very very limited for those of a disadvantaged socioeconomic background, or even the avergae chilean. A few Chileans are benefitting at the expense of the rest.
There are many many problems beneath the surface.

[The Real Dude]

Axl wrote:

Don't try to sugar coat this country. It is still very much a third world banana republic.
The average wage is about $400 per month. There is much socioeconomic inequality. Opportunities are very very limited for those of a disadvantaged socioeconomic background, or even the avergae chilean. A few Chileans are benefitting at the expense of the rest.
There are many many problems beneath the surface.

Dude, have you ever even been to Chile?? You certainly need to do your research before making such uneducated statments! "Third world banana republic." Are you serious??

[Joe]

Axl, I should tell you that, although Chile still has some ways to go, it looks better than some parts of Vermont where I live. I think it is a bit offensive of you to put this country down and call it a "banana republic". I have been there several times and Chile seems to be a very progressive country, although it is still not at the level of a first world country (although it seems to be on the way). Chile has made a lot of progress and it may have a brighter future that than the US, the way things are going here...

[Rafa]

I am a long time resident in USA, but I keep visiting my natal country Chile. I cannot agree more with the words of Joe. Chile is progressing steadily, there is a sense of improvement. It is true that there is still a long way to go, mostly in the area of income distribution, wages and salaries are still low. but all the Chileans are proud, of the deserved high scores in probity according to Transparency International, of their
democracy, the fact that no chilean would even think of bribing a policeman, which is a daily need in "banana republics".etc.

[The Real Dude]

Rafa wrote:

I am a long time resident in USA, but I keep visiting my natal country Chile. I cannot agree more with the words of Joe. Chile is progressing steadily, there is a sense of improvement. It is true that there is still a long way to go, mostly in the area of income distribution, wages and salaries are still low. but all the Chileans are proud, of the deserved high scores in probity according to Transparency International, of their
democracy, the fact that no chilean would even think of bribing a policeman, which is a daily need in "banana republics".etc.

I have lived in Chile for two years now and they are making leaps in bounds in many areas. Well said Rafa and Joe. I think it is obvious that Axl has no clue what he is talking about.

[Jen in Trinidad]

We're not talking about a finished product here. No one is saying Chile has reached first world levels yet so comparing it with the US or Europe is useless.

Chileans are to be commended for the great efforts they are making, the goals they have proposed for themselves and their progress toward reaching them. It's an ongoing journey.

And $400 a month is still much higher than most of Latin America. Here in Bolivia the average monthly household income among over 80% of the population, for example, is only about $85. So it's a big difference and one we should be applauding.

[Jen in Trinidad]

Also I just wanted to add one more thing. It could be said a country's greatest RESOURCE is its population's average education level, not its national treasury or average income levels.

Therefore if the measure of a country's wealth is it's average level of education, Chile's is among the highest in Latin America.

[Fabian from Canada]

Axl wrote:

Don't try to sugar coat this country. It is still very much a third world banana republic.
The average wage is about $400 per month. There is much socioeconomic inequality. Opportunities are very very limited for those of a disadvantaged socioeconomic background, or even the avergae chilean. A few Chileans are benefitting at the expense of the rest.
There are many many problems beneath the surface.

Your comment is laughable and quote ignorant. I have been to Chile a dozen times and there is no way Chile is "banana republic". If it is, then it's the most developed "banana republic" in existance. Yes it has it problem like most countries but in comparison to actual "Third World" countries, Chile is light years ahead of them in terms of living standards, poverty rates (the lowest in latin America- along with Uruguay), Low levels of corruption and high literacy rates etc.

Yes, like it's Latin Neighbours, there are high income inequalities but guess what compadre? Have you been to parts of Washington? My sister nearly got killed there when she was bombarded by homeless people living in Tents when she was walking to her run-down hotel (next time she will take a cab) or have you been to Detroit? Give me Chile anytime. People will still lable Chile as a "Third World" nation still ignoring the fact that when compared to the rest of those countries labelled as "third World", the comparison is crystal clear especially those who have travelled there or live there and to state there is NO middle class is bogus. My entire family living in Chile ARE middle class and they live far more confortably than I do.

A little research goes a long way.

[Allende]

Avenger wrote:

<quoted text>
I agree! Chile is probably one of the most developed economies in S. America. It has a very good low corruption score according to Transparency International. There are a lot good things Chile can be proud off. It's political and economic institutions are great. It also known as the "Latin Tiger" because its higher than average economic growth rate. You can thank the "Chicago Boys" for transforming the Chilean economy.

The Chicago Boys only were able to privatize the economy and create a "free market" in an atmosphere of no free market of ideas. The U.S. backed coup was what made it possible and it actually widened the gap between rich and poor in Chile. The U.S. performed a neoliberal economic experiment at the expense of Chilean democracy.

[Allende]

Rafa wrote:

I am a long time resident in USA, but I keep visiting my natal country Chile. I cannot agree more with the words of Joe. Chile is progressing steadily, there is a sense of improvement. It is true that there is still a long way to go, mostly in the area of income distribution, wages and salaries are still low. but all the Chileans are proud, of the deserved high scores in probity according to Transparency International, of their
democracy, the fact that no chilean would even think of bribing a policeman, which is a daily need in "banana republics".etc.

I agree though, Chile is NOT a Banana Republic. It has a high standard of living for the region and now, a thriving democracy. Wonderful country and wonderful wine!

[Cincinnatus]

I'm glad Pinochet kicked Allende's ass. To bad Fidel didn't want to come to his rescue. Another Marxist dreamer bites the dust!