Economic Reforms in Chile Essay

Economic Reforms in Chile Essay

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Chile is a Latin American country facing the Pacific Ocean and located in the Andes Mountains. More specifically, this country is longer than wide in terms of fields spreading. Indeed, it has got 4,600 km of Pacific coastline and only 250 km in its widest part in the South American continent. (OECD, 2013)

As almost every Latin American country, it has suffered from a long period of dictatorship. However, it implemented in that time range several economic reforms that made the success of Chile today. Those measures are also known as the “Chilean miracle”. Following the concept of neoliberalism and the Chicago school of economics. Chile put in application almost all their recommendations such as cutting tariff, opening Chile's markets to global trade and privatizing some state run companies. (OECD report, 2013)

As a matter of fact of recognizing the new wealth of a country, joining the OECD (Organisation for Economic Co-operation and Development) is a good indicator. Indeed, taking part of the OECD means a lot, because it represents the most developed countries in the world.

Moreover, it also developed 22 Free-trade agreements with 60 countries around the world representing 86 % of the global GDP (Ubifrance, 2013). In the Latin American region it takes part as an associate member of the integrated regional agreement called Mercosur (Mercado Común del Sur) with Brazil, Argentina, Uruguay et Paraguay. To sum up, Chile is the less risky country to invest in regarding the financial, economical and political risks.

This leads us to our main topic the shipbuilding industry in Chile. As a little introduction, it is important to remind that the Chilean shipbuilding does not represent a substantial industry in this country. Further...

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...mentioned, the clear benefits to build a ship in Chile is due to the reliability and the experience that professionals in this industry and more especially in its own company offer to their customers. Furthermore, Chile is well known for being at the cutting edge in terms of technology, which has helped significantly in order to maintain Chile in a competitive position in this particular industry. The particularity of Chile is its tastes for innovation, anticipation and design for state of the art vessels of any kind. (, 2014)

To do so, the government has always been attentive to its needs and expectation. This is why, it has implemented a port renovation plan towards 2020, in order to renovate and enlarge its infrastructures to possess modern facilities, with the objective to obtain the edge in Latin America. (Plan Chile Portuario 2020, Ullola, 2009)

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