CHILE'S ECONOMY VIA GLOBALISATION

Excel Section IV: Extended-response question
Discuss the strategies being adopted by an individual economy {other than Australia} in pursuing increased economic development in a globalised environment.

With the push towards globalisation Chile has become a strong new contender as an emerging country. The Chilean economic growth levels were amongst the highest in the world, giving rise to the title, the Latin American tiger. It has used many tools to get to its current position and reach its ultimate aim of total free trade. Chile has a market-oriented economy characterised by a high level of foreign trade. During the 1990s, immediately after democracy was brought back, the government strengthened its economic reforms. The benefits were seen quickly, with growth in real GDP averaging at 8% from 1991-1997. Chile’s domestic strategies to promote economic growth and development have been just as strong as its external/foreign position. Chile has concentrated primarily upon struc...