Many of the world’s biggest economic success stories have happened in places with few or no natural #resources. This is clearly visible in #Asia. Tiny #Singapore, without a single natural resource, has transitioned from one of the poorest countries in the world to one of the richest. #Japan and South #Korea rebuilt their war-torn countries. #China, which used to be a poor country and net oil exporter, is now the world’s second-largest economy and top importer of oil. On the other hand, countries richer in natural resources have ended up much poorer. Mountainous North Korea has access to #mineral wealth. Many resource-rich countries have not lived up to their development potential due to the “resource curse” of the negative effect of natural resources on the economy, society and politics in these nations. bit.ly/1AKJ5C8
Posted on: Mon, 22 Dec 2014 13:00:02 +0000
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