Chile’s copper dependency has taken a turn for the worse: 55% of all exports

Tuesday, November 16th 2010 - 23:33 UTC

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Chile’s long-term effort to wean itself away from copper dependency appears to have taken a turn for the worse: economist Hernan Frigolett reported that the booming demand for copper has led to extremely high prices (over US$4 per pound), meaning that copper accounted for 55% of the nation’s exports in the second quarter of 2010. Read full article

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xbarilox
Someone told me long ago this could happen. I told him: hell no! I was wrong.
Nov 18th, 2010 - 08:17 pm - Link - Report abuse 0
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Rufus
So, Chile's efforts to not have all of their exports in one comodity basket is being scuppered by the fact that the one comodity that they are trying not to rely on has become so much more valuble.
While I can sympathise with their desire to diversify it's difficult to be too sympathetic. My best advice would be to ignore the percentages, protect the non-copper exports as best they can and use the excess income on infrastructure and things that will be useful if/when the bottom falls out of the copper market.
Nov 19th, 2010 - 04:25 pm - Link - Report abuse 0
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