New York Times highlights that Chile is on the verge of development

The prestigious New York newspaper published an article on the world economy over the last 10 years, in which it highlighted Chile’s incorporation into the OECD.

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Today the New York Times, considered one of the most influential newspapers in the United States and the world, published a report in which it highlighted and valued Chile’s economic performance over the last few years.

The article, entitled “Fruitful Decade for Many in the World,” underscores that the last decade was fairly positive for many economies, despite the fact that this was not so much the case for the United States because of the economic crisis, the wars in Iraq and Afghanistan and the 11 September 2001 attacks.

The newspaper stated that “in South America (…) Chile is on the verge of becoming a developed country: it will soon become part of the Organization for Economic Cooperation and Development,” thus highlighting the country’s inclusion in the club of developed countries in 2010.

In addition, the newspaper mentioned that the four most populated countries in the world other than the United States – China, India, Indonesia and Brazil – made major progress during this time compared with the disastrous decades that preceded it, which were marked by inflation, financial mismanagement, and falling standards of living.

Written by George Mason University Economics professor Tyler Cowen, the report statesthat these emergent powers led the decade in many areas, such as appreciation of entrepreneurs and innovation, thus displacing the predominant role that the US economy used to play.

This post is also available in Spanish