Rich Investors Pull Out of Chile, Leaving Behind a $50 Billion Hole
- Boric government vows to reshape country’s free-market economy
- Capital that has exited country shows little sign of returning
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Chile, Latin America’s stand-out economy for the better part of 50 years and a darling of Wall Street, is in many ways facing an existential moment.
Its Milton Friedman-inspired constitution is still intact, for now. But virtually everywhere you look, once sacrosanct pillars of the country’s free-market system — from its private pensions and health care to how much it taxes big business — are under attack following the election of its most leftist leader in decades.