The Chilean culture has an overall economic freedom ranking of seventy-nine, while here in the United State is a seventy-six. There are some substantial margins of difference between the two cultures although they are about equally successful in the business and manufacturing industries. Chile has a business freedom ranking of seventy point five while the strongest suit is in property rights at a ninety. However, the Chileans weakest area is their financial freedom coming in at seventy which runs even with the United States over the last three years. Regardless of this information Chile remains of the highest degree of overall economic freedom in South and Central America, including the Caribbean region. This is in part to the Free Trade Agreement (FTA) established January 1, 2004 between the United States and Chile. This agreement allows for commercial trade of goods and services between the two countries as it has reduced the duties and been quite successful with hopes of eliminating tariffs by 2015.
I would encourage business with Chile as their economy is prospering and the rank in economic freedom continues to be among the top ten in the index. Chile is also the world’s largest producer of copper and a powerhouse for minerals, wood, fruit, seafood, and wine. Chile has been growing in markets equating to a grade “A” credit rank for over twenty-five years, unmatchable by any other Latin American country. They continue to pursue market-oriented strategies, and expand ties globally in regard to commercial relations. As Chile consistently ranks high on indexes related to transparency and competitiveness along with the economic freedom, I believe Chile would be wonderful to operate within. They already offer United States exporters a more open, stable, and attractive market in comparison to other Latin American countries.
According to Hofstede’s four dimensional model the cultural overview of Chile ranks higher in power distance and uncertainty avoidance than...
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