The Wall Street Journal & Breaking News, Business, Financial and Economic News, World News and Video. iPolitics | Canadian Political News & Commentary. The Natural-Resource Curse Strikes Again by Andres Velasco. Exit from comment view mode. Click to hide this space SANTIAGO – Chile today produces one-third of the world’s lithium – used in batteries that power everything from computers to cars – and has great potential to expand that share. But, while everyone agrees that Chile should realize its potential as a global supplier of lithium, the local debate on how to accomplish this has produced more heat than light. President Sebastián Piñera’s government has attempted to auction off the right to expand lithium production to up to 100,000 tons over the next 20 years. But, as is often the case with natural-resource exploitation in developing countries – though not necessarily in Chile – the process has turned into a tragicomedy of errors, impeding the country’s development.
There are lessons in this experience for other natural-resource exporters. Piñera’s center-right administration has been rigidly ideological in its approach. The auction was marred by potential conflicts of interest. Global Trends 2030: Media Coverage. Foreign Policy - the global magazine of economics, politics, and ideas. Consolidated Acts. The Harvard Political Review — Harvard Talks Politics. The World Economic Forum. Center for Strategic and International Studies.
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