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From the end of the 30s, Chile practiced an development
pattern called "import substitution", which made the
nacional industry of Chile get more development. But at the
end of the 60s, as a result of failing to develop export
market, Chilean economy got into difficulty. In 1970,
Salvador Allende led Chile under the socialism. During more
than two years of socialism,its policies like nationalization
made the economic situation worse. Because of the breakdown
of Chilean economy in 1973, a coup had made Chile get into an
authorian regime of sixteen years. On September 9, 1973,
the general Augusto Pinochet launched a coup and
overthrew Allende''s "Unidad Popular" government. After
being in power and for the purpose of solving economic
problems , the military government adopted the monetarism
policy advocated by "Chicago boys"; and implemented a
series of liberalism economic reforms, which principal aims
were to control the inflation. The policies, including the
privatization of nacional companies, trade liberalization
and financial liberalization, indeed had made economic
situation better at the end of the 70s. But after the
recession of 1982, military government reorganized the
cabinet instead of "Chicago boys". The new cabinet of 1985
had implemented an "export development" plan, which made the
GDP of Chile increase much annually from the middle of the
80s. In 1989, Chile returned to democratic regime led by
Patricio Aylwin, who continued to practice liberalism
economic policies. Furthermore, it strengthened positively
the relation of export trade with the countries in Asia,
Eastern Europe and Latin America, and dedicated itself
toward regional integration.
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