Chileans have once again dealt President Gabriel Boric a major setback, handing an overwhelming victory to the right-wing opposition in a vote for a new Constitutional Council. The outcome all but ensures that Chile’s next constitution will fail to bring about the progressive changes Boric and his supporters had envisioned.
Over the past two decades, Chile has been a place where businesses can operate in a regulatory environment shaped by steady and fair rules, while Argentina’s extensive regulations on prices, taxes and capital controls have made business difficult. However, when it comes to the lithium industry, that narrative has just been flipped.
Chilean President Gabriel Boric is anxious to convince voters he is serious about combatting a surge in violent crime, but his administration is divided over how to tackle it. After three police officers were slain in a span of 23 days since mid-March, Boric is now facing a political backlash that has sidetracked his domestic agenda.
