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16 March 2010
CHILE: Major Economic Slowdown Predicted.
NYTIMES/ Economists predict that several important industries including fishing, paper, wine and agriculture will suffer major slowdowns. The quake destroyed a third of Chile's fishing industry, more than 12% of the stock of wine industry and put out of commission a pulp and paper mill that will take six months to repair. Plus, the more than 300 aftershocks are stressing out locals and even milk cows. “The movement of goods to ships is going to slow down,” said professor Sebastian Edwards. “Chile is a country that relies heavily on exports, so this is (port damage) going to be a factor.”