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When a country finds gold, oil or diamonds, you might think this would be a good thing. But in many cases, it is a curse for that country, and it would have been better off leaving its natural resources in the ground.
In today's episode we cover:
- Expression: "to strike gold"
- Wars & conflict
- What happens to your currency when you export natural resources
- Government accountability & politicians
- Equatorial Guinea (and the $600M president)
- Prices that change a lot
- Did the resource curse cause the fall of the Spanish empire?
- Countries that disprove the rule
- "The devil's excrement"
Full transcript and key vocabulary available on the website: www.leonardoenglish.com/podcasts/the-resource-curse
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