Latin America legal practitioners are bracing for a slew of business as wealthy Chileans seek diversification for their investments after a leftist former student protest leader won the presidency on promises to reengineer the economy.

President-elect Gabriel Boric wants to dismantle Chile’s $220 billion private pension system, which has anchored the local capital markets and currency for decades, in favor of a public system. He has also proposed raising taxes on mining projects and the super-wealthy.

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