DoubleLine’s Jeffrey Sherman and Sam Lau welcome Dr. Robert Funk, a political analyst at GlobalSource Partners, an assistant professor of political science at the University of Chile, and a political risk consultant and partner at Andes Risk Group. Dr. Funk visits the show to discuss the political situation in Chile and economic environment in a country he was once chided for focusing on because it was boring. Chile is boring no more. Dr. Funk recounts the backdrop that led to the protests of 2019, which were sparked by a hike in subway fares (5:46). The government response to the unrest was a proposed constitutional convention (9:15), a voter-approved process that he says has kind of gone off the rails. Dr. Funk describes the workings of the convention, which he says is dominated by the central and far left, and how a focus on representation over stability is leading to the drafting of the world’s first woke constitution (12:26), which he believes will affect investment at some point. Other topics covered by Dr. Funk and Messrs. Sherman and Lau include the popularity of Chilean President Gabriel Boric (15:14), the outlook for nationalization and royalties around Chile’s resources (23:21), the government’s goal of deficit reduction (26:37) and what Dr. Funk sees as a period of lingering uncertainty (35:51). This episode was recorded March 24, 2022.
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