A Short History and Summary of the Current Conditions in Chile and Its Geographical Situation Essay

Chile is a country situated on the west coast of South America. It is also known as The Republic of Chile. The size of Chile is 289,112 square miles with a width of less than 100 miles. It is basically a little larger than Texas. Chile is divided into three main parts, mainland and two territorial islands named Isla Sala y Gomez and Easter. Chile has an interesting history and it has seen many ups and downs in its economic development (Hudson, 1994). A description of the history of the 20th century of Chile and its current economic and political situation is presented below. The history of the 20th century of Chile is mainly focused on its entrance to the parliamentary system and thus it saw the changes in its political situation. In the beginning of the 20th century, Chile was stable despite of having lesser power in the hands of presidents. During this time, congress selected the president for the country. The presidents of this century mainly includes: German Riesco Errazuriz, Pedro Montt, Ramon Barros Luco, and Juan Luis Sanfuentes. During the 1920’s, there was an increasing gap between the middle class and lower class of society (Bizzarro, 1987). Due to this gap, the masses were dissatisfied and they called a new leader, Arturo Alessandri Palma, who brought the system of election for the selection of president. He brought other changes as well such as compulsory primary education and separation between the church and state. After a few months’ service of Alessandri, Carlos Ibanez came into power and promoted public works and industry; however, he is known as a military dictator. Electoral Democracy was there during the years of 1931 to 1971 in Chile. After a period of uncertainty in Chile, Alessandri came into power again. Alessandri ruled Chile almost like a dictator and restored the power of Constitution of 1925. Considering the presidency elections of 1958, it is found that there were three candidates and all were from different types of people. They were conservative, Christian Democrat, and Socialist (Zanartu, & Kennedy, 1969). Jorge Alessandri Rodriguez won the election of 1858 and maintained a stable situation in Chile. Alessandri was sensible and with his ability to maintain the economic and political situation, he put a halt to the inflation in Chile; thus, contributed in the economic development of the nation. In 1964, Frei defeated Allende again. Frei was a Christian Democrat and took control over the copper industry of Chile. In the next elections, Allende came into power with his socialist view. Allende was the first elected Marxist in Chile. Allende brought new policies and changed the existing policies; such as, he finished the nationalization of the copper firms of the United States, nationalized banks, and sped up land distribution in the country. Some leaders in Chile were against the socialists programs of Allende. In 1973, with the help of the U.  S. , a military coup ousted Allende (after which he committed suicide). After Allende, Pinochet ruled untill 1990. He was mainly focused on privatization and returned the banks, factories and lands to the private owners, and put strict economic and social condition on the people of Chile (Weil, 1969). Overall, it can be said that Chile saw many different leaders in the history of the 20th century and developed in many directions. Current economic and political situation of Chile is described below in the paper. The Economic Situation During the 1970’s Chile saw the economic growth, but in the next decade it experienced recession. Pinochet was the president of Chile and he put some strict economic conditions on Chileans. Looking at the current economic condition of Chile, it can be said that it is a growing and prosperous economy. The government of Chile has a played an important role in the economic development of Chile. Peso is the official currency of the country. The government has intervened many times in the financial market of Chile to control the economic situation of the nation and promoted the social spending (Loveman, 1988). According to the current economic condition, the total GDP of Chile is U. S. $ 268. 3 billion and its GDP growth is 5%. Inflation in the country is 4 to 5% and its main industries include copper, iron, lithium, fish processing, foodstuffs, wood and woods products, cement, textile, etc. (Thomas White International, 2013). It is already discussed above that culture and history of Chile has affected the economic development of the country many times and its reflection can be seen in the economic system of Chile. Chile has seen both growth and recession (with the different economic treatments of its presidents) It is currently able to manage a decrease in the foreign debt and open for the foreign investment. The Current Political Situation The current political system of Chile is also stable. It is nation with multiparty. The country has three branches of executive, legislative, and judiciary. The cxecutive branch selects the president for the country and the legislative branch has two houses named Chamber of Deputies and Senate. The Supreme Court and other lower courts come under the judiciary system. There are many political parties involved in the Chilean Government and they are trying to maintain the social and economic condition of the country (Kelleher & Klein, 2011). Analysis and Conclusions Concluding the paper it can be said that Chile has now become an important part of the global economy with its growing industries. Due to many changes in its political atmosphere in the 20th century, Chile faced many challenges in its economic development as it saw growth as well as recession. In 1990, the democratic government was again brought into Chile. A Christian democrat Eduardo Frei won the election in 1993. Currently, the condition of Chile is stable. Chile is facing some challenges in its development of having some problems between the military and the government. Also, there is a belief in the people of Chile that the income inequality is getting worse. Apart from the economic problems, the people of Chile are facing the problems of natural disaster. A devastating earthquake has affected the economic condition of Chilean. The newly elected president of Chile, Sebastian Pinera, is trying to control the challenges that the country is facing (Cynthia & Crabtree, 2010).