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      <image:caption>As usual, you will be able to find a more in-depth analysis of this issue in this week’s accompanying Report.</image:caption>
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      <image:caption>Donald Trump, Volodymyr Zelenskyy and Vladimir Putin find themselves in the middle of reworking the world’s markets… again.</image:caption>
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      <image:caption>The report tracks this institutional alchemy through three prisms: sectoral structure, trade architecture, and social outcomes. Sectoral data show Chile’s industry at 31.8 percent of GDP compared with Britain’s 17.5 percent, underscoring a commodities-heavy metabolism on one side and a post-industrial one on the other. Trade architecture explains why those structures endure. Chile’s 31 free-trade agreements lock in mineral exports, while Britain’s renegotiated pacts chase market share for digital and professional services. Social indicators, finally, expose what pure macro aggregates conceal: Chile’s Gini coefficient hovers above 44, Britain’s at 33; unemployment sits near double digits in Santiago but half that in London. Economic design, the evidence suggests, is engrained in policy incentives, not destiny.</image:caption>
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