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Australia? USA? Canada? There are many different resources besides simply oil (I am making an assumption that's what is in your mind because of the Norway ex
by ohashi 15y ago
Australia? USA? Canada? There are many different resources besides simply oil (I am making an assumption that's what is in your mind because of the Norway example). Mongolia doesn't simply have oil (and they rank #92 in the world for oil production - so they don't even have much of it), they have richer mineral deposits.
- westicle 15y agoThose examples don't necessarily refute grandparent's point. See link below regarding "two speed economies" in which resource booms can actually have a negative structural impact on production. http://www.treasury.gov.au/documents/1421/HTML/docshell.asp?URL=02%20The%20resources%20boom%20and%20the%20two%20speed%20economy.htm http://www.treasury.gov.au/documents/1421/HTML/docshell.asp?...
- ohashi 15y agoI am aware that natural resources have caused trouble for a lot of countries. Just stating that it isn't an automatic death sentence to have them.
- bergie 15y agoAustralia, Canada and USA had reasonably well functioning economies to start with. And many of the resources were discovered outside the scope of globalization or colonialism, allowing much of it to feed back into the local ecosystem.