Last week Anthony was back on the road headed for South America’s hottest economy: Chile.
With a population of more than 17 million and nominal GDP over $248bn, Chile’s economy is currently the 6th largest in the Latin American continent, after Brazil, Mexico, Argentina, Colombia and Venezuela.
Yet, Chile’s economy delivered a growth rate over 4.6% in 2012, comfortably outpacing the regional average of 3.2%. Chile’s booming economy is characterised by near-full employment, strong foreign trade relationships and sound economic policy. Global exports account for 32% of Chile’s GDP, with China being its largest trade destination. But could a Chinese slowdown, fuelled by a buildup in China’s private sector credit, have major implications for this South American nation?