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Economic Issues In Chile Essay

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With the defeat of Peru and Bolivia and the 1883 Treaty of Ancón signed, Chile began a new age of economic prosperity. Not only did Chile acquire the disputed territories of Tarapacá from Peru and Antofagasta from Bolivia; but they gained total control of the highly sought after nitrate industry and copper ore deposits which were soon to boom. It was this acquisition that altered and boosted the economic future of the Chilean state through increased industry, agriculture, transportation, and education. In this analysis, we will look at the long term economic and societal impacts that came from the victory of the War of the Pacific. With the discovery of copper in the Antofagasta and the growing global demand for copper in electronic components, Chile saw an incredible boom which still has a very real and present impact to this day. Copper is Chile’s primary source of revenue of which it produces a third of the world’s demand and provides 20% of the country’s GDP and 60% of exports. (Reuters, n.d.) Even now Chile’s economy is expanding by nearly 6% annually due largely to the copper industry. It is thanks …show more content…

“From 1990-2004, the education budget has increased four times. In Chile, the government expenditure on education as a percentage of government expenditure is at the level of 18.7%, higher than the 6.2% average for OEDC countries.” ( Embassy of Chile, Washington, DC, n.d.) The amount the government financially dedicates to educating its population is a testament to the proceeds of mining the Antofagasta. The four different levels of schooling listed in order are; preschool, primary school, secondary school, and higher education (college). College students are given two choices to either take regular courses such as reading, writing, math etc., or they can go to a technical/ trade school and learn skills for a career in

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