“...Chile’s sound macroeconomic policies under the Bachelet administration have created a savings fund, currently around $15 billion, which will allow the new government to face this tragedy with resolve and immediacy...”
Bachelet had NOTHING TO DO with setting up the fund! It has been in place for MANY, MANY YEARS. Over the years the Socialists have even tried to raid the fund for pet projects.
Moreover: Chile’s copper mines were specifically designed against Earthquakes.
Chile will bounce back quickly from this.