JP Morgan doesn’t say that Li will replace Cu in the Chilean economy, quite the contrary. It only says Li could be as important as wine, salmon or forestry:
... although lithium will not replace copper in the near future, it could provide a source of diversification for the Chilean economy, which is highly dependent on the red metal", said the firm in a report sent to clients.
In this context, the Bank highlighted expectations of government agencies, including Corfo, that this industry "has the potential to become a valuable subsector of the Chilean economy, reaching exports values close to the of the wine, salmon, or forestry industries.
"In this context, lithium has been gaining importance in the Chilean economy, considering that in 2010 the metal represented only 0.24% of the total Chilean exports, while in 2018 that number has increased to 1.26%".
