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Despite Forbes/ JP Morgan, Bachelet guarantees continuation of 'Chilean economic miracle'

Monday, November 11th 2013 - 12:44 UTC
Full article 16 comments

On the brink of Chile's presidential elections, 17 November, US business magazine Forbes has published an article warning voters that electing Michelle Bachelet of the Socialist Party (PS) would put an end to the Chilean “economic miracle.” Read full article

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  • Anglotino

    Kaiser sounds like a bit of a drama queen. Typical American that sees the political centre in other countries as to the left and anything even slightly further than that just therefore be extreme left.

    Chile is not going to undo 25 years in just 4.

    There is something to be said for free education, income redistribution and constitutional reform. Just because the US doesn't practise their things doesn't mean other countries can't do it successfully.

    Nov 11th, 2013 - 01:23 pm - Link - Report abuse 0
  • Math

    Bitchelet attends Foro de São Paulo and wants badly to destroy the example that Chile is for other latin american countries.

    Nov 11th, 2013 - 01:37 pm - Link - Report abuse 0
  • Anglotino

    Aaah yeah.... no she doesn't.

    Nov 11th, 2013 - 01:59 pm - Link - Report abuse 0
  • CabezaDura

    Chile will be doing just fine. People don’t invest in other Latam countries not because taxes are higher, they don’t do so because there is a high degree of bureaucracy and corruption, no stability, no clear rules, no proper judicial system, etc-

    I dont see why any of this will change with Bachelet or Matthei for that matter...

    What might be in future is a more left wing foreing policy of Chile, but its just a guess

    Nov 11th, 2013 - 02:01 pm - Link - Report abuse 0
  • Math

    Yes, she does it. Do you know what Foro de São Paulo is?

    Nov 11th, 2013 - 02:10 pm - Link - Report abuse 0
  • ChrisR

    @ 5 Math
    “Do you know what Foro de São Paulo is?”

    According to Wiki:

    “São Paulo Forum) is a conference of leftist political parties and other organizations from Latin America and the Caribbean. It was launched by the Workers' Party (Portuguese: Partido dos Trabalhadores - PT) of Brazil in 1990 in the city of São Paulo.

    The first meeting, held in São Paulo, on July 1990, was attended by members of 48 parties and organizations from Latin American and the Caribbean. The original name given to the meeting was Meeting of Left and Anti-imperialist Parties and Organizations of Latin America (Portuguese: Encontro de Partidos e Organizações de Esquerda e Antiimperialistas da América Latina). In 1991, in Mexico City, the meeting started being called, alternatively, Foro de São Paulo, in reference to the location of the first meeting. The following meetings were held in Managua (1992), Havana (1993), Montevideo (1995), San Salvador (1996), Porto Alegre (1997), Mexico City (1998), Managua (2000), Havana (2001), Antigua Guatemala (2002), Quito (2003), São Paulo (2005), San Salvador (2007), Montevideo (2008), Mexico City (2009), Buenos Aires (2010), Managua (2011), Caracas (2012) and São Paulo (2013).”

    Looks like a bunch of commies in a talking shop to me. No actual achievements and the meetings themselves are the “driving power” for action! Ha, ha, ha.

    About as useful as New Labour: excellent for destroying an economy and bringing everyone down to the same financial level, with the exception of the “Dear Leaders” of course!

    They should appoint The Cunt Brown” as their “Mentor”, he knows how to do it!

    Nov 11th, 2013 - 03:06 pm - Link - Report abuse 0
  • Condorito

    Bachelet did a reasonable job last time, she will do a reasonable job again.

    Nov 11th, 2013 - 03:09 pm - Link - Report abuse 0
  • Conqueror

    I'm not all that interested BUT isn't there a generally-held belief that socialists are best at spending other people's money? And, more importantly, what is her attitude to Kirchner? Shall we recall “the Scottish play” and the Three Witches? Or perhaps 1939-45 and the Axis?

    Nov 11th, 2013 - 04:31 pm - Link - Report abuse 0
  • Condorito

    Conq:
    The Chilean “Socialists” of the last 20 years stuck to the Pinochet era rule book of macroeconomic management and they didn't run up debt or tax heavily.

    Re Kirchner, they are poles apart. Bachelet, in her pre-political career was a properly qualified professional. As a political leader she was widely respected.

    Nov 11th, 2013 - 06:09 pm - Link - Report abuse 0
  • The Chilean perspective

    Condorito, there's a new variable this time around. Bachelet has the Chavista Communist party in the coalition. She is clearly much more left leaning this time around and she doesn't have Andrés Velasco as her minister of finance/Secretary of the Treasury.

    Nov 11th, 2013 - 11:55 pm - Link - Report abuse 0
  • Condorito

    The Chilean Perspective, you are right, but I think the prospect of the communists walking out of the coalition during Bachelet's term is more likely than them influencing policy.

    Given that :
    (1) Piñera has left the bar high on economic performance;
    (2) Public spending needs to be brought down; and
    (3) there is more moderate growth in China

    I don't think she will have room for anything radical.

    Nov 12th, 2013 - 12:51 am - Link - Report abuse 0
  • wesley mouch

    Recreation of the welfare state that has bankrupted the developed world is what is B seeks? You have got to be kidding. But I imagine Chileans are as stupid as Americans and Europeans. The free lunch mentality works until it doesn't.

    Nov 12th, 2013 - 10:31 am - Link - Report abuse 0
  • Condorito

    @12 Wesley
    “Chileans are as stupid as Americans and Europeans” yes very true, but it is not right that the welfare state has bankrupted the developed world, more like too much welfare state. If public services are provided within the fiscal budget there is no problem.

    Nov 12th, 2013 - 12:11 pm - Link - Report abuse 0
  • Anglotino

    My country has a welfare state and isn't bankrupt.

    So does Norway.
    So does Sweden.
    So does Finland.
    Denmark
    Germany
    Switzerland
    New Zealand
    Canada
    Israel

    And none bankrupted or even in a dangerous debt position.

    Christ some people need perspective. First on the Chilean election and then on the cyclical nature of capitalism.

    Nov 12th, 2013 - 12:53 pm - Link - Report abuse 0
  • ElaineB

    There is no doubt at all that there needs to be more spending on education and health care in Chile. On this trip I have met with people involved in developing both under the current government and this will continue under the next.

    This is not reckless spending to create an out-of-control welfare system but to develop the country and create more equality. A more educated population is desirable to keep pace with development of the country. The healthcare is too centralised and the plan to create satellite specialist teams in the regions will encourage people to move to the less developed areas.

    This is not the government throwing money at creating an over-burdened welfare state but the natural progression towards Chile becoming the first developed country in South America.

    Nov 12th, 2013 - 03:20 pm - Link - Report abuse 0
  • Anglotino

    Word for word agreement.

    Nov 12th, 2013 - 07:52 pm - Link - Report abuse 0

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