What happens when a country becomes overly reliant on a single resource industry?

In the short term, a country can enjoy rapid economic development driven by its resource industry advantages, which boosts国民 happiness. But when those natural resources run dry and other industries fail to step up, the economy spirals into turmoil — currency collapses, inflation surges, the wealthy flee, and ordinary people are left to bear the consequences of poverty: hunger, lack of access to healthcare. Venezuela, once the wealthiest nation in South America, is now a living hell.

Fastest-Growing Economy in the World: 62% GDP Growth — How China Can Benefit

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