China’s economic empire | Le Monde diplomatique

“Dutch disease”, coined after the discovery of the world’s largest deposit of natural gas in the Dutch province of Groningen, in 1959.

Dutch gas exports soared, bringing in huge amounts of foreign currency and causing the value of the florin to rise sharply. The prices of Dutch products on foreign markets rose, while the cost of imports fell, and Dutch industry declined.

Latin America today is in a similar position.

via China's economic empire – Le Monde diplomatique – English edition.

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