#62: The Resource Curse
English Learning for Curious Minds | A More Interesting Way To Learn English
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Oil Money Isn't Trickling Down to the People
Equatorial Guinea is on a GDP per capita basis, at least one of the richest countries in Africa. Yet it's 141st out of 189 on the UN's Human Development Index. For countries that are reliant on natural resources to generate money, this makes planning for anything pretty hard. One of the reasons that Venezuela is having such trouble now is that the price for oil has dropped significantly.
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