infrastructure, and
political turmoil. About 85% of the population depends on
agriculture, including the herding of livestock. Of Africa's
Francophone countries, Chad benefited least from the 50% devaluation
of their currencies in January 1994. Financial aid from the World
Bank, the African Development Fund, and other sources is directed
largely at the improvement of agriculture, especially livestock
production. The World Bank's decision to back the Doba oil field
development and the Chad-Cameroon pipeline will add Chad to the
group of already booming West African oil exporters. However, the
rank and file may not benefit much from the oil development projects.

Chile:
Chile has a market-oriented economy characterized by a high
level of foreign trade. During the early 1990s, Chile's reputation
as a role model for economic reform was strengthened when the
democratic government of Patricio AYLWIN - which took over from the
military in 1990 - deepened the economic reform initiated by the
military government. Growth in real GDP averaged 8% during 1991-97,
but fell to half that level in 1998 because of tight monetary
policies implemented to keep the current account deficit in check
and lower export earnings - the latter a product of the global
financial crisis. A severe drought exacerbated the recession in
1999, reducing crop yields and causing hydroelectric shortfalls and
electricity rationing, and Chile experienced negative economic
growth for the first time in more than 15 years. Despite the effects
of the recession, Chile maintained its reputation for strong
financial institutions and sound policy that have given it the
strongest sovereign bond rating in South America. By the end of
1999, exports and economic activity had begun to recover, and growth
rebounded to 5.5% in 2000. Unemployment remains stubbornly high,
however, putting pressure on President LAGOS to improve living
standards. Meanwhile, Chile has launched free trade negotiations
with the US.

China:
In late 1978 the Chinese leadership began moving the economy
from a sluggish Soviet-style centrally planned economy to a more
market-oriented system. Whereas the system operates within a
political framework of strict Communist control, the economic
influence of non-state managers and enterprises has been steadily
increasing. The authorities have switched to a system of household
respon