Question

Please help, I will mark Brainliest. Describe the history of economic development in Chile. What kind of economic systems did they have in the past? Please write 1 paragraph long, 4-5 sentences.

Answer 1

Chile experienced its first modern economic crisis with the Long depression in the 1870s. Chilean exports and GDP per capita rose steadily through the 1980s and 1990s until the Asian crisis of 1997 after which economic growth slowed somewhat. Chile has a mixed economy, which means that it is made up of both private and state-owned corporations. The privately-owned businesses are regulated by limited government policies. The economy of Chile is one of the most secure and productive in South America. It is ranked by the World Bank as a high-income economy.