Natural resources are not required to make a country an economic powerhouse. See Japan, for example. Hong Kong, Taiwan, S Korea.
What's needed are free markets. Any country that wants to become a powerhouse has it within their grasp. Free markets.
Natural resources are not required to make a country an economic powerhouse. See Japan, for example. Hong Kong, Taiwan, S Korea.
What's needed are free markets. Any country that wants to become a powerhouse has it within their grasp. Free markets.
And political will.
The Antipodes have such a problem with successful people we even invented a term for it.
https://en.wikipedia.org/wiki/Tall_poppy_syndrome
On the subject of free markets, Australia excels. We even let foreign entities extract and sell our LNG and pay no royalties and no tax.
https://australiainstitute.org.au/post/zero-royalties-charge...
Doesn’t get any freer than that!