Chile will have more potential to become a developed country than Argentina. Although Argentina’s GDP is now higher than Chile’s, Argentina is currently in a long-term political instability, with a low level of industrialization technology and an inadequate economic system. As well as the currency crisis that broke out, unless Argentina can solve these problems, the possibility of becoming a developed country is almost zero.
Argentina also applied for assistance from the International Fund due to the economic crisis. The International Fund provided more than 50 billion U.S. dollars to the Central Bank of Argentina to stabilize the situation. This was the largest loan in the history of an international organization. Argentina It is difficult to just restore the economy, but also to repay loans from international funds. In this case, it is impossible to become a developed country.
Although Chile’s current GDP is only about 300 billion US dollars, its overall economy is not as good as Argentina’s. However, Chile is very rich in minerals, wood industry, agriculture and fishery, which can be said to be the four major industries of Chile's national economy. In particular, Chile is extremely rich in copper resources. It can be said to be a big copper country. It also produces wood and pulp and has an export value of more than 20 billion US dollars in agriculture and fishery. Relying on the economic drive of these industries, Chile has a good chance of becoming a developed country if it grows its economy. After all, Chile is not as unstable as Argentina in its domestic economic situation.
Although Chile has more hope of becoming a developed country than Argentina, judging from the current Chilean economy, there is still a long way to go before becoming a developed country. The Chilean government must develop its own advantageous industries and increase the number of products. Only by increasing the export volume can the economy be further improved. It is impossible to become a developed country relying solely on the current economic situation.