Red Hot #Chile 🌶

1. Cascade of cash —$49 Billion— from early withdrawals from the private pension funds established under Pinochet.
2. Pandemic-era cash handouts.
3. Surging #Copper prices over the past year.

This perfect trifecta, has made Chile's economy the fastest among major states with an expected Growth rate as high as 11.5%! A record for Chile— even considering the great economic expansion of the 1980s and 1990s, after Pinochet's "Chicago Boys" unleashed a wave of free-market reforms.

The effects, from surging inflation to continued shortages of major capital goods due to the surge in demand, are being felt throughout the economy. 

Read the whole story on Bloomberg here: https://www.bloomberg.com/news/articles/2021-09-20/in-world-s-hottest-economy-chileans-wait-13-months-for-new-cars?srnd=economics-vp

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