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Sri Lanka doesn’t have a currency problem. There population doubled since 1960 and they never industrialized. They simply don’t make anything to sell that has
by roody15 4y ago
Sri Lanka doesn’t have a currency problem. There population doubled since 1960 and they never industrialized.
They simply don’t make anything to sell that has value other than tourism and natural resources.
Trade imbalance has been an issue for decades and they simply hid the problem by taking out loans.
They have simply run out of credit.
My two cents
- zzleeper 4y agoBut it's not just that. With a free economy the problem would sort-of have solved itself, as there are a lot of poorer countries that don't have currency crises. To get as screwed up as this you can only achieve with centralized planning, where a single decisionmaker mistake can mess up the sustenance of millions.
- imtringued 4y agoWhat? Japan, South Korea and China are examples of planned industrialization.
- nibbleshifter 4y agoHard to industrialise when you are busy fighting a war on your own soil tbh. Good chunks of the North are still somewhat off limits and fucking littered with landmines too.