Why Poor Countries Have So Many Natural Resources - VisualEconomik EN

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[@gizel4376]

you forgot the 3rd type of country, countries that are bullied for their ressources, specially when it came to vital ressources like oil

[@defaultsettings63]

Thanks for giving a shout out to my country, Botswana 🇧🇼

[@makayneilson7570]

I think if you base your country around raw material extraction and exclude other opportunities, you end up giving up the higher value added sectors. If you focus on using natural resources to fuel other sectors in your own economy, it works much better.

[@Lucifer_26]

If I remember correctly, Brazil did exactly this and it made them far richer than other south American countries

[@dancavdijk]

Bit oversimplified, it is easier for rich countries to put a proverbial boot in a developing country's neck so to speak. Just some examples, the USA taxes heavily Steel and automobiles from Brazil. It does not tax Iron ore. It taxes heavily Orange Juice. But not Oranges. The EU taxes flour, but not wheat from Argentina. It used to tax heavily, before sanctions, fuel and plastics from Venezuela but not crude oil. It subsidizes production of car parts from the US, but taxes the importation of the same from Mexico but not the automobiles. In the latter case It forces Mexico to import parts from the US, assemble in country and export an autombile back to the US. It looks good on paper, as at first glance the US can say they're buying cars from Mexico, but the real Net worth was eschewed long before.

[@gabfelippi]

@@Lucifer_26 we did it and our industry become very reliable over public benefits and when the commodities crisis came, we got fuck up. Also, we mismanaged this rent from natural resources (and commodities in general) and when the money stopped flowing in, everything ruined. and we are in no sense richer than all other south american countries, even argentina with its chronic inflation and IMF addiction they are richer than us. actually we are at best a "upper middle class" in south america

[@aoeu256]

Countries that have natural resources are often sanctioned, invaded, or have coups by the countries in the West...

[@matthewshields]

The problem is politicians take short gains over long-term prosperity

[@Serif_0s]

Tourism is in fact an export. It sounds counterintuitively but export does not trace the direction of goods or people. It traces a direction of money into or from ones economy.

[@quirkyMakes]

All countries should strive to be self sufficient first. prosperity is not long term when you are reliant on other countries.

[@Lucifer_26]

He literally gives multiple examples of countries that rely on other countries for almost anything which are among the richest in the world, have been and will be in the future...

[@1wun1]

7:10 Spain exports Coltan, a rare mineral found in your phones and laptops.

[@adventureglobaloffical]

hello just wanted to say amazing videos love your guys channel, thanks you

[@dremc1000]

One major factor you forgot to mention in regards to Developing countries in Africa, middle east, S America and Asia, all had the western gov involvement in some form, positive or negative depending on the countries. The west uses HR to its advantage when it wants to target some regimes while the same time ignoring so called Authoritarian allies continuously commit HR crimes and get a pass.

[@thebeleepo7693]

Thanks for speaking facts about my country Botswana.😀

[@mdhxrthbk1783]

Well, I believe due to being too comfortable with the riches brought about through the availability of an abundance of natural resources, it'll breed complacency until you start depending your growth solely on its availability not realizing that nothing lasts forever.

[@aoeu256]

True, but sanctions, proxy wars, invasions, terrorism funded by proxies like Saudi Arabia, and CIA backed coups don't help...

[@philoslother4602]

Basically, The harder the life in a country is at first, the more developed and innovative it becomes It's the same with cold vs hot countries, ancient people didn't have to innovate much to survive in warmer climates because you could always get fruit and food easily and could farm In colder climates, you had to constantly innovate to stay alive

[@ArawnOfAnnwn]

That's far too simplistic and patently untrue. Most African countries arose in conditions of absolute destitution, and that has hardly resulted in them turning into developed powerhouses since. Meanwhile places like the UK or France haven't been poor for centuries.

[@innosam123]

@@ArawnOfAnnwnAfrica is also a diseased hellscape, which physically makes people less productive. Even with modern medicine, infrastructure in Africa is difficult to build, so much of the continent is still diseased vs Eurasia.

[@cocomotippin9135]

Please tell us what soundtracks you're using! If they're not just short clips

[@botsyame9326]

Your pronunciation of Botswana is pretty good though

[@datoolz0]

Poor countries just need to form cartels like OPEC. That is the answer to the dilemma, a coffee cartel, tea cartel, and lithium etc. Stockpile resources in warehouses, and sell them exclusive only on the Shanghai and Mumbai exchanges. They can also start refining the product, sell aluminum bars not aluminum, etc. More of the resource wealth can flow to themselves vs the West.

[@snackplissken8192]

Great video. I had not thought of the effects of foreign capital on currencies in countries with the curse of natural resources but it makes sense. One has to wonder if universal basic income might similarly reduce the reliance of politicians on tax revenue from the average tax-payer and further shift resources and policy preferences to the cash cows and their politically connected owners. For most of us, one of the worst possible policy outcomes is a Cyberpunk style future where a handful or oligarchs control everything and the average person is completely marginalized.

[@1wun1]

Cyberpunk is already here

[@gabfelippi]

UBI wont solve the problem because the money still comes from natural resources (or commodities to speak more broadly), and still flows into local sector. Norway found a pretty smart way to get rid of that: creating a oil fund where the money from oil rent gets into public accounts indirectly throught rents from that fund (with investment elsewhere in the world to not inflate internal economy) and then stabilizes internal economy.

[@thechosenone1533]

It often seems like poor countries are resource rich or resource dependant because that's their only source of income while richer countries with lots of resources also make money from manufacturing and services. For eg:The USA produces more oil than Saudi Arabia. Canada produces more diamonds than DR Congo or Sierra Leone. But the US and Canada aren't called resource rich because they have other sources of income. While Saudi Arabia and Sierra Leone are resource dependant because they have few other sources of income.

[@GoldenBoyDims]

The US is almost the size of a continent you can’t really compare it to tiny countries like Saudi and Sierra Leone ofc it will have more resources why do you think the Europeans colonized it in the first place

[@shauncameron8390]

@@GoldenBoyDims Europe had the technology and manpower to carry it out.

[@jaydenclowers2616]

The theory that impressed me the most is the Classic Theory of Evil.

[@gideonAschwanden]

The Dutch in the 70s were undemocratic? This theory has a gaping hole.

[@airconditioner130]

I'm from Iraq and I agree. Natural resources does slow down growth because we become too dependent on it and it brings a lot of preying eyes from foreigners as well.

[@nickflynn666]

The man who designed the oil resources management that allowed Norway to prosper was an Iraqi refugee ( Farouk al-Kasim )who had seen all the different ways not to manage oil resources and so persuaded Norway to design a resources management system that would actually work.

[@Pogbab]

Lets see what resources we can find in witkleigat in south africa.

[@rzpogi]

You forgot human labor. In the Philippines, overseas Filipino workers and business process outsourcing are our biggest export.

[@shauncameron8390]

The Philippines make lot of money from remittances.

[@Kkhan56777]

Just wandering who owns the diamond mines in Botswana?

[@ycplum7062]

Doesn't Norway have a sovereign investment fund that bands investments within Norway? This prevents the buying of influence within Norway. Or did I get the wrong Scandanavian country?

[@ishaqapalando]

FACT CHECK: Nigeria has had uninterrupted democracy since 1999, that's 23 years ago.

[@panashemombeshora4552]

The natural resource curse exists, but not in the way it was explained in this video. What the curse really is, is a curse of being the last one to deplete your natural resources. And this simply means that if you have too many resources and a small or weak population, the countries with a strong government will swoop into your country and take your resources because you have them and they don't. It's like a bully stealing lunch from a junior, or a babysitter stealing a lollipop from a baby. It's not because the young people are dumb or anything but it's because the bigger people can. Iraq, Venezuela, Haiti, Libya, the DRC, Somalia, Uganda, Chad, Afghanistan, the Philippines, India, China, Egypt, New Holland (which by then was the land of the 'Aborigines' until some people randomly changed it to modern day Australia) and the Indies (now known as the United States of America) are all really sad examples of places that were brutally invaded up to the point that in some places, the real locals of the land were outright destroyed in their ability to run their country that they were replaced by people today who really aren't natives to that country, like Australia or the US today.

[@BlueDirt_ProAggressive]

1 point. What about outside influence? It's usually pretty bad if your a country with natural resources and the super powers want it. Corruption can be implanted.

[@Eoin-B]

Does that theory still hold as much truth today? Lack of interference caused a lot of these countries to get the resource curse, causing dictatorships, civil wars, state-sponsored proxy wars, child & forced labor. While Interference causes the exact same. There is forced child labour in the cotton industry and diamond & lithium mines in countries at the moment and we are currently not interfering with. So under your logic, should we ignore it and leave the country to continue what it does? Or do you isolate trade with it in hopes that they stop? or try fund a coup to overthow the government and replace it with a democratic one? Every option is awful. Think Venezuela, Iran, Russia, Libera, Central African Republic, Iraq, North Korea, Libya, ect, ect. All have vast natural resourses are/ were sanctioned regarless of how it negitivly affected our own countries. This is quite literally leaving them alone. Many resource rich countries are in a constant state of civil war, coups or wealthy dictators with a totalitarian grip on power keeping their citizens in poverty. They used to supported and now their not and things are just as unstable. What can the countries that need to buy theese resources do? Some people in the country argue to leave them alone and just trade with the dictators that keep their citizens down violently and fund terrorist groups, destablising countries around them. And many more say it's immoral to support them and should be isolated.

[@gizel4376]

@@Eoin-B if you isolated them people will suffer even more, the governement won't get weaker, and if you intervene, first you become a warmonger and second, you're not really the one who intervene, your government is not as well intended as you are and often thing get even worse for people there, so if you care about the people there and not your personal interest, yes, deal with the dictator. in adition to that i will say, when you try to coup a regime, that regime will take mesure to defend itself and will become more authoritarian

[@ArawnOfAnnwn]

@@Eoin-B Sanctions aren't "leaving them alone". Sanctions are literally an offensive economic tool. Usually it extends beyond just not trading with them yourself, but using whatever tools at your disposal to prevent them trading with others too.

[@shauncameron8390]

@@Eoin-B North Korea never had vast natural resources. And their poverty was largely due to over-reliance on Soviet aid and the government's heavy-handed control as local industry gradually declined rendered unable to efficiently or adequately feed itself.

[@smediumlarge]

I swear these videos are sped up and it’s hard to focus

[@enochlam9936]

Au how nice!

[@jubril_juma]

13:40 you didn't check your facts 😥; Nigeria has had continuous democratic rule since 1999, which makes it 23 years of democratic rule. That statement was so wrong it made me question how much research really goes into these pieces beyond reading an article. Please verify everything you say before and after shooting videos 🙏🏻.

[@jdjphotographynl]

3:50 Isn't it a matter of the manufacturing industry simply having taken its business from the Netherlands to countries where salaries are considerably lower, and workers rights not as developed, from the 1960s onwards to optimise their profits rather than that it has something, if anything, to do with any possible resource curse?

[@chidiebereumeike4497]

The information on Nigeria 13:35 to 13:39 is wrong. Nigeria has had an uninterrupted democratic dispensation since 1999 seeing 4 Presidents so far with a 5th coming into office next year with elections planned for February 2023.

[@timnicholls19]

I think it's more to what they do with them. There was a economist that said it pretty well about Australia. " Rich and dumb" so basically like most resource rich countries we have a lot of primary industries our secondary industries have shrunk especially in the last 20-40 years and this unturned affected our tertiary level industries which have all but fallen away

[@GadgetMuhsin5000]

Why do you avoid talking about France's involvement in Nigerian oil?

[@FlamingBasketballClub]

Let's talk about Cacao production in Africa please.

[@rajatkumargupta6058]

I who's first thought was infrastructure, education and medical advancement 😅

[@ac1455]

Ok, if the key is a democratic rather than authoritarian model of government, why did the Netherlands fail? Was it at the time not democratic?

[@manhoosnick]

Norway..

[@sor900]

Australia and usa rich ressources.

[@Mightyflynn77]

Its because wypipo are best. And botswana was ruled by a half wypipo

[@leozao5]

I'm tired of people talking about Venezuela's oil reserves like they something to be amazed at. Sure, they have the largest one, but the quality of their oil is absolute trash. You have to either sell it ridiculously cheap or spend a fortune refining it, which then means either greatly increasing the price (but then no one will buy it) or selling at the regular price (taking a major hit to your profit).

[@silverbird425]

Also, in history - Natural resource exploitation was a reason for colonization.

[@webcelt]

That's an intriguing thought, that getting taxes from natural resources instead the people means not having to care about the people's opinions, so if there wasn't a democratic structure already, the resource curse stops a democracy from developing.

[@jaybee4577]

I disagree. Natural resources do make countries rich and the richest countries in the world have resources that made them rich i.e navigable rivers and fertile land. Resource isn’t just mineral digging from the ground. Countries like the USA, China, Brazil , Canada are large continental size with huge natural resources and they are definitely not poor. Cherry picking countries like Switzerland and Singapore while not acknowledging that these mini states are dependent on global trade and cannot survive on their own. In a world with of lesser free trade their wealth won’t hold up much. Even the continent of Africa isn’t as rich as touted and the richest African countries are also the ones with decent agricultural production and mineral wealth. Nigeria Algeria Egypt gas and oil/ South African minerals/ Botswana diamonds with tiny population. Many poor African countries aren’t resource rich with few exceptions like DRC with have been very unstable for decades.

[@CesarLuisAfonsoDias]

Does any country really survives without trade?! More efficient countries creates more demand for goods, more demand for goods bring more opportunities for poor countries... But if there is no efficient countries, everyone else will crumble like an house of cards.

[@aliukehinde3906]

The continent of africa is actually very rich but when she has been broken into 54 different countries.

[@jaybee4577]

@@CesarLuisAfonsoDias I think some countries can survive without trade. The USA for example can easily source a lot of minerals with it own border/bordering countries. Some countries will just have suffer technological drawbacks but can provide food and energy for their population.

[@jaybee4577]

@@aliukehinde3906 I get you the continent is rich but the resource wealth is not evenly distributed within African nations. The idea that every single country in Africa have natural resources is misleading. The richest countries in Africa are also the ones with most mineral wealth within their borders.

[@aliukehinde3906]

@@jaybee4577 yes, every africa nation have it own natural resources but the biggest problem of africa is the lack of infrastructure,up to date technology,internal conflict,massive brain drain loss to the west, biased view of africa and africans from the rest of the world, corruption,poor national patriotism from africa partly due to colonisation and most people rather still to identify with their ethic group, tribe or a rebelling part of their country,poor and rapid climate changes and conditions that the rest of the world are far to ignorant of etc. You see contrary to what you have written the most resourceful part of the continent such as the sahel region,the Congo and the horn of africa in term of solid mineral resources are the most conflict engulfed part of the continent. The most development part of the continent are regions that has access to international markets such as Nigeria with oil and kenya with tourism,or better development due to colonisation such as south africa or Ghana. Development of the continent of africa will lead to massive prosperity never seen before in the history of humanity in this era of globalization especially with third world countries and it is a shame to see it all perish as most of the rest of the world are too ignorant about it people,it culture and it importance for the rest of the world.

[@alexandreingles]

I love this channel, but in this video you did not explain how a country can escape the Dutch Disease. Based on the video, there is nothing undemocratic or evil about the root causes of this issue (which are: the appreciation of the currency due to increased exports, and increased public spending as a result of higher tax revenues). Can you clarify that? Thanks!

[@rzpogi]

The Dutch whom that economic disease is named just diversified their economy. While oil/natural gas is still their leading export, agriculture, urban design, tourism, technology, and being a less obvious tax haven compared to Ireland contribute to the Netherlands economy.

[@michaelsonsarmiento5943]

The resource curse. I am filipino and we experience this curse.

[@erichfreeman2756]

Interesting. However, there is one important variable: colonial ideologies. Having imposed a conquest on America or Africa is a determinant of structural poverty. To say that the differentiator is the democratic or non-democratic system of the countries with resources is too simplistic. Many hegemonic and colonial countries have a lot of governmental corruption. Their rulers are not only corrupt internally, but also corrupt colonial governments locally to pursue their interests. It comforts me to know that empires fall as a result of their contradictions and that they are now in crisis. Despite the fact that they consider themselves model democracies. For example, the criminal theft of Venezuelan gold or the unilateral US sanctions against Venezuela are a source of shame for the honest citizens of those countries. It has nothing to do with national resources and their governments; UK and USA are corrupt and terrorist states. The hiden moral on your video is not "be democratic and you will be like Norway" it is more like "Accept our democratic approach and be happy". It was fine in the 15th century, but it is not so easy to believe now. Greetings from Caracas

[@thechosenone1533]

Natural resources can make you wealthy if you use it properly. Saudi Arabia may not be the richest country in the world but it's certainly a hell of a lot richer than it would have been without oil. Just look at their neighbouring countries to see where they would be without oil.

[@DanielS-zq2rr]

What countries? Pretty much all of them have oil or gas

[@thechosenone1533]

@@DanielS-zq2rr Yemen and Syria don't have much oil.

[@bullymaguire8380]

​@@thechosenone1533 iraq iran has oil , why are they not rich.

[@thechosenone1533]

@@bullymaguire8380 Because the USA sanctioned and later invaded one and the other has been the most sanctioned country on earth for decades until Russia overtook it.

[@bullymaguire8380]

@@thechosenone1533 Exactly what is the natural resource curse.

[@jamestajiri58]

Off the top of my head, Qatar is not a big exporter of oil. They export a lot of gas

[@krakken-]

People are a country's best natural resource...

[@saagisharon8595]

exactly, if the common folk of resource rich countries had lived as comfortably as the average westerner, those natural resources wouldn't be so low cost, so it's in the elites best interest to keep them unstable or at war etc

[@kentheengineer592]

Rich = Agreement Poor = Disagreement

[@oEDLIo]

So in other words, being rich in natural resources is not enough. You still need responsible government policies.

[@saagisharon8595]

how much responsibility would you learn to have in life if everything was handed to you for your whole life?

[@user-hw2el6ds7s]

Insignificant Italy?! Are you good man? Ahhahahahh

[@haydenglendenning4305]

Personally I'd say infrastructure makes a country profitable.

[@craven5328]

I remember reading something about this. You can have all the natural resources in the world, but if your terrain is too difficult to navigate or makes building infrastructure needed to get your resources to market very expensive, you are stuck. This is why port cities tend to do well / be valuable assets for nations, and why sea / naval capabilities were so instrumental in building the largest empire the world has known - The British Empire. And, Britain managed to become a world power from a pretty small, and comparatively resource poor base. (Since the beginning of time, it has been cheaper to move goods and people by water, rather than by land).

[@aoeu256]

@@craven5328 The West also landlocks nations to make them poorer like Russia landlocking Manchuria， Israel and Lebanon landlocking Jordan and Syria， Kuwait landlocking Iraq， the West landlocking Russian by forcing them to give Crimea and Mariupol to Ukraine.

[@aesop_]

UK vs Norway vis-a-vis Saudia vs Norway. You'll realise that "democracy" is not as strong a factor as you make it out to be.

[@dylreesYT]

"What determines whether a country is rich?" Money 🤣

[@eddyr1041]

Yhis true except 4 usa

[@zenleonor9440]

*laughs in australian*

[@qizhang5129]

Noway, UAE Qatar,

[@eifelitorn]

So wasn't Holland democratic in the 60s?

[@gilberttello08]

👌👌

[@erictevoedjre3966]

This is a very interesting video, but I think that you confuse "Dutch disease" with "Resource curse". Democratic countries can fall victim to Dutch disease. Countries which suffered the resource curse are essentially resource-rich non-democratic countries.

[@KamiInValhalla]

The lack of natural resources makes a country more scrappy. They know they have to work harder to get things done. Of course there are always exceptions as the US is one of the largest exporters of oil and gas.

[@madamehussein]

Yeah but....isn't the netherlands a democracy? Did natural resources make them less democratic and/or more corrupt?

[@CMVBrielman]

Private ownership of mineral rights seems to work pretty well for the US.

[@user-hf2dr7sh4y]

Private oil companies are also raking in billions of profits this past year so that's working very well for oil stock owners

[@basilbrushbooshieboosh5302]

Really interesting. Fossil fuels must eventually be phased down. But as many instances of this resource being found in poorer countries, the likelyhood of this seems low. So the juxtaposition as I see it is how would the richer countries help these resource-rich poorer countries overwhelm the infiltration of the Dutch Disease. Could a system of sister-country relationships be enacted for advisory purposes on fields such as education, advantageous govt. funding and investment, provision of health infrastructure, ensuring natural and environmental health, and the implementation of infrastructure for sustainable and flexible industrial/commercial/residential sectors. Systemic approaches are vital for those with the power to decide and direct the flow of the resource gains that will certainly come.

[@David-io9lp]

What is this assumption that democratic governments somehow fare better in solving this problem? The Nigerian example you gave particularly confused me: "Since then only 4 of the last 35 years of Nigeria's political history has been spent under democratic rule". I had to check when this video was released because that statement really baffled me. Nigeria has been a democratic country for the last 20 years or more. In fact, the problem has gotten worse under democratic rule. I agree that a big part of it is down to corruption, but I also believe that a major part of the problem is competency in those countries. These problems are not exactly very difficult problems. In truth, they can be solved with the use of a little common sense: Go to countries that have solved the problem and ask questions.

[@xanderreyno]

To butcher a phrase "Rich countries are where rich people take public transport."

[@saagisharon8595]

not all poor americans take public transport

[@mogh2603]

But the Netherlands itself was democratic....

[@OlabodeAdedoyin]

I'm Nigerian. Nigeria has been a democracy since 1999. Over 20 years now. Where did you get your stats from?? I typically love your videos but that info on Nigeria just is not true.

[@Omer1996E.C]

China, UAE and qatar are very resources full nations, but very rich. It's all about politics... I agree It's all about democracy... I disagree

[@shauncameron8390]

China only started prospering when it reformed its economic model. The UAE and Qatar are dependent on foreign migrant labor and US military protection

[@five-starlamar1166]

Sounds like you think its a game

[@Poorpie]

The countries that I thought of that are the most immune from this economic disease are CHINA and thr US

[@MA-go7ee]

13:38 'Since then, only four of the last 35 years...have been spent under democratic rule'... Blud, Nigeria has been a democracy since 2000. That is twenty plus years. You shouldn't ba making basic errors like these.

[@clayongunzelle9555]

They have the resources but they don't have the technologies or sometimes the personnel to extract and not just extract but also refine these resources and so they have to depend on foreign companies who are more than willing to work with corrupt politicians who will only look to enrich themselves instead of looking out for the country...

[@shauncameron8390]

Exactly.

[@peaceleader7315]

Australia 🇦🇺 is the only nation that is blessed with natural resources and being rich... hmmmm.. I think it is about the political directions and a compassionate mindset of our people and mindset it self.. yeah..hmmmm

[@s9ka972]

*Qatar* 🇶🇦 have natural resources and its rich too . *Laos* 🇱🇦 doesn't have natural resource and its poor too . Where as *Singapore* 🇸🇬 have no natural resource and its rich where as *Nigeria* 🇳🇬 have all resource and its poor . I am not adding European countries partly because of their looted wealth from colonies .

[@lokeshsag]

Corruption and not organized

[@croswellbarrett8745]

So exactly how did Venezuela become poor? How did American policy mess up the peoples of this country. Your analysis is very superficial

[@saagisharon8595]

Officially they're poor because of socialism but other sources say american imperialism. If the common folk of resource rich countries had lived as comfortably as the average westerner, those natural resources wouldn't be so low cost, so it's in the elites best interest to keep them unstable or at war etc

[@ArawnOfAnnwn]

The 'resource curse' argument is far too convenient, as it simply ignores all the cases of nations that're rich and ALSO have plentiful natural resources. Norway is the usual example given, but even the US fits here and it's the richest nation of them all. Point that out and you usually just get a canned carve-out ala 'exceptions prove the rule' (how convenient!), or else some moral posturing about countries needing to also be capitalist, democratic or even at the more racist end, they'll go on about IQ or 'culture'. Resources aren't necessarily a curse. If they were, you wouldn't have countries all over the world still seeking them out, and treating discoveries of them not as a curse, but a blessing. Some nations don't use their resources well, others do. But the resources weren't the problem.

[@jaybee4577]

Exactly, natural resources do make countries rich. Even in Africa the richest ones are the ones with decent agricultural production and natural resources.

[@DanielS-zq2rr]

You clearly didnt watch the video until the end

[@ndorobei4391]

South East Asia economy also mostly depends on natural resources. Palm oil and others. Natural resources curse only happens in South America and Africa.

[@shauncameron8390]

The natural resource curse doomed the Spanish Empire and the USSR.

[@ricardonascimento9461]

Another video on YT, which countries have most natural resoucers... 2# USA 4# Canada 6# Australia Well... what about that curse?!

[@Connor_Roush]

A country with higher high ave lQ will determine how it’s economic status. Simple as.

[@sperm8493]

Based

[@oppionatedindividual8256]

Other way round initially, as you must be rich to be educated.

[@Connor_Roush]

@@oppionatedindividual8256 WRONG! High ave lQ is genetic in nature.

[@abhishekadile1270]

It’s border line racist. Also Asian countries have historically controlled around 80% of world gdp till 1850s. Looks like they will be there again.

[@Connor_Roush]

@@abhishekadile1270 East Asians have higher lQ, but at the same time they are all in demographic collapse.

[@ndorobei4391]

Only Arab Gulf countries with Islamic economy system that can manage natural resources.

[@bernieburrows3731]

I find it surprising you fail to mention Scotland in this analysis.. As part of a supposed union of equal partners, why is it that as a resource rich county, Scotland has the highest energy costs in the whole world? I can see that the democratic voice of the Scottish people has been removed by its much bigger next door neighbor (as the recent supreme court decision deemed). Scotland is a country within a union that is ruled by a bully, who takes all it's resources, and makes them pay for the privilege

[@kennethchua3232]

Venezuela is poor because the US has imposed crippling sanctions on them.

[@saagisharon8595]

exactly, if the common folk of resource rich countries had lived as comfortably as the average westerner, those natural resources wouldn't be so low cost, so it's in the elites best interest to keep them unstable or at war etc

[@muhammedjaseemshajeef6781]

Agreed 👍🏻

[@cristianfamigliuolo]

😂😂 Hey English KZbinr. Thanks to have given to everyone that come from Italy or Spain as Insignificant, but 😂😂you have to remember that the next time the Arabian will not have an INSIGNIFICANT FERRARI or Armani suit or drink Barolo, Montepulciano, Prosecco, Campari or an ESPRESSO, Grana padano or lasagne, pizza, fettuccine Alfredo ecc.. Thankful that you have given to me the opportunity to remember at the world as really significant Italian people are. 😂😂😂😂😂😂 This message is a demonstration of Insight that survive in our people for millennia. You will have Stone Enge. We have Dinosaurs, the Colosseum And Asterix and Obelix trying to fight the Romans. 😆

[@TauGDS]

You realise that the original channel is a Spanish one right? These 'English youtubers' are reading from a script that's based on one written by Spanish writers (that's why Spain is referenced and covered so often compared to typical English language outlets). But also yeah, when it comes to global economics, Spain and Italy are not especially relevant, outside of specific contexts like the Spanish tourist industry

[@michaelsonsarmiento5943]

How about Australia? I think it's because the country was stolen form native aborigines.

[@Lacteagalaxia]

The guy who speaks the look with a ridiculous look like the wolf of wall street makes me laugh when he says the false and xenophobic cliche that we are only waiters and we live off tourism and that in some regions they are dedicated to this because as in all countries;there are peolpe who know dedicated to this and others yo carpenters ; doctors and engineers has nothing to do with the school dropout rate and tourism is a nonsense because today they así you for more titles almost un tourism sector correctly; " that to be engineers" you have know languages go to the hotel school pass the exam obtain the title and of course at least the school graduate or e.s.o how many nonsense is said no wonder with those looks

[@tengkualiff]

Because rich countries extract resources from poor countries after depleting their own resources which in comparison makes it seem like they have more resources.

[@ryanlazarus3381]

Which rich countries do this?

[@Julio-xz3or]

That's incorrect.

[@user-ge6eh3fg2b]

You are talking about Lichtenstein or Monako? Or Andora? You are way off the point.

[@blueeyedpunk]

Nah it's just an excuse

[@willy4170]

This is one of the dumbest comments I’ve ever read.

[@jamestajiri58]

Corruption is not the fundamental cause. Lack of investment in productivity factors is