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Notimex / The Voz of Michoacan
Santiago, Chile. The Chilean government reacted today by alerting on the new decline in the international price of copper, the main export product of this country, which recorded its lowest value in the last nine months on Wednesday.
The figure for the day in #Economist Agenda : Copper fell 1.98% this Wednesday pic.twitter.com/1HH0JG2kpl
– CNN Chile (@CNNChile) July 5, 2018
The pound Red metal fell nearly 2% at the London Metals Exchange, to $ 2.92, because of fears of a trade war between the United States and China, which could hurt copper exports.
Felipe Larraín of Chile told reporters that "unfortunately, what we have seen has a lot to do with the trade war" between the two world powers. "19659002" It is clear that those who started this process are probably not interested in these effects. But they are generated because we know how it starts, but not how it ends, "added Larrain
A trade confrontation between China and the United States would lower global economic growth and, if that scenario materialized, the projections China's gross domestic product (GDP) would decrease with its demand for copper
We are no doubt worried about the trade war and we hope it will be a transitional effect, "said Larraín, who added that if "The Minister of Mines, Baldo Prokurica, asserted that" for the government and for the public policies that are promoted by the current administration, it is essential that the Copper is located on the three dollars a pound. "
However, he said that" the projection that all the technical agencies have made is that the copper will be kept "
The Minister of the Economy, José Ramón Valente, said that" any Obviously, the price of copper is very important to us. In the short term, it is relevant for finance and Chile. "
He added that" it is important for Chile to understand that its economic development goes beyond copper. In the end, whether the country does well or badly depends on us, the Chileans, much more than we can depend on the price of red metal. "
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