if you are following us on twitter use the #bachelet. welcome, president bachelet. [ applause ] >> thank you, ted, for those kind remarks. and particularly thank you for being there with us, watching the football game too, suffering as we suffer. thank you very much for that. well, i want to say chairman of the board of the brookings institution, mr. john thornton, acting vice president and director of foreign policy of the brookings institution, mr. ted, director of latin american initiative brookings institution mr. harold munoz. secretary general of the os excellency, minister, senators, congressmen, members of the chilean delegation, distinguished ambassadors and representatives of the diplomatic corps, officers of the u.s. government, pro fessers and members of the academia, ladies and gentlemen and dear friends because i see a lot of good friends here, i started this to give a little of latin american touch. we usually start off speeches with a long mention of all the important people. dear friends, it's always a pleasure to return

if you are following us on twitter, please use the hash tag #bachelet. welcome, president bachelet.se] thank you for those kind remarks and for being there with us and watching at the football game suffering as we suffer. thank you for that. i wanted to say what the with te chairman of the board working at the institution acting vice president and director of the foreign-policy over the brookings institution, director of latin american initiatives at the brookings institution, secretary general of the excellency, ministers, senators and congressmen and members of the delegation, distinguished ambassadors and the diplomatic corps, officers in the u.s. government, professors and members of the academia, ladies and gentlemen and friends, because i see a lot of good friends here. .. in recent decade chile has embarked on a successful path of democratic changes. we have significantly reduced poverty and have also strengthened the country's stability, economic, political, and social. we are international recognize as a country with good practices, clear rules, and working, and i would say

if you are following us on twitter, please use the #bachelet. thank you for joining us, prime minister. >> thank you for those kind remarks, and in particular thank you for being there with us, watching the football game, suffering as we suffer. thank you for that. the board of the brookings institution -- and the acting and the director of the latin american initiative, -- the secretary-general and his excellency -- ministers and senators and congressmen of the delegation, distinguished ambassadors, officers and representatives of the u.s. government, professors and members of academia, and i see a lot of good friends here. i started this to give a little wethe latin american touch, usually start this with a mention of all the important people. it is always a pleasure to return to the united states, which was my home for several years. where learned important lessons and made close friendships. brookings and those who we areored this meeting, optimistic that we have initiated changes for the future of the country and continent, that this is a w

logical that this old south american colony would want to go along with the brics you know michelle bachelet another person whose father was you know tortured by by pinochet and other cia baggage or so this is why it's happening there because they've seen this oppression this aggression from the us is a mineral darkroom you know in the late eighty's hundreds and and this is why latin america will go first i think when you put you know together china india brazil russia. and if they can get a lot of these g twenty countries to come along with them like indonesia that's a huge market huge natural resources millions of people billions of people billions in china alone out of the billion in india low that have an opportunity now i. have got plenty more for you on our website including climate cover dubai plans to build the world's first climate controlled city as a summer temperatures in the united arab emirates reach over forty five degrees celcius the area under a huge glass dome is to accommodate a shopping center hotels and even a wellness district more than that on line. and while you're th

you know, i think it was -- >> just to give you an example because michelle bachelet was here exactly where you are yesterday, and she was reminding me that at that time the currency in chile went up by 30 percent. now, it sequentially went down a bit, but it had immediate and strong effects on those countries. new zealand is another point and case. >> you know, i think there, in part, what was happening is that traders had built up positions that were premised on unrealistic expectations about interest rate paths and about the appropriate level of volatility. and it wasnt just a shift in monetary policy, but a rapid unwinding of carry trade and leverage positions that had built up that caused that damage. you know, i pledged often and will continue, we will try to conduct our monetary policy, to communicate about it and to conduct it in a manner that is understandable to financial markets to avoid the kinds of surprises that could cause jumps in interest rates that cause such capital flows. you know -- you know, to some extent -- to some extent, i think -- i think such spillovers are

you know, i think it was -- >> just to give you an example because michelle bachelet was here exactly where you are yesterday, and she was reminding me that at that time the currency in chile went up by 30 percent. now, it sequentially went down a bit, but it had immediate and strong effects on those countries. new zealand is another point and case. >> you know, i think there, in part, what was happening is that traders had built up positions that were premised on unrealistic expectations about interest rate paths and about the appropriate level of volatility. and it wasn't just a shift in monetary policy, but a rapid unwinding of carry trade and leverage positions that had built up that caused that damage. you know, i pledged often and will continue, we will try to conduct our monetary policy, to communicate about it and to conduct it in a manner that is understandable to financial markets to avoid the kinds of surprises that could cause jumps in interest rates that cause such capital flows. you know -- you know, to some extent -- to some extent, i think -- i think such spillovers ar