Word: monoproduct
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...reduce tariffs, which had ranged from 100% to 1,000%, to a more uniform 10%, forcing Chilean industry to become competitive almost overnight. Now Chile is shipping refrigerators to Argentina, shoes to Peru and logs to Japan. In the process, the country is transforming itself from a "monoproduct" economy into one in which noncopper goods are now 51% of exports. Forests are being planted with high-yield pine trees; U.S. authorities estimate that by 1990 forest products could become as important as copper to the economy...
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