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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English Learning for Curious Minds is where you can learn English from native speakers while learning fascinating things about the world.
Every episode comes with a transcript & key vocabulary and is spoken at a speed you can understand.
Join listeners from 155 countries and discover the most interesting way to improve your English while expanding your mind.
Find the bonus episodes, transcripts, key vocabulary, and learning materials at www.leonardoenglish.com