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The EU and US are unlikely to bounce back any time soon, and the fortunes of many natural resource exporting countries ultimately depend on China.
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These systems favor unmitigated growth and exploit natural resources, exporting pollutants to the environment as waste.
The resources exported by Russian companies return into the Russian economy as imported end products with appropriate mark-up, which is further increased by the existing tariffs and non-tariff trade restrictions.
Skeptics have questioned the Natural Resource Curse, pointing to examples of commodity-exporting countries that have done well and arguing that resource exports and booms are not exogenous.
The policy upshot of the first type is that African economies need to invest their gains from primary commodity exports in downstream, higher value added industries, which should allow the continent's natural-resource exporters to develop and diversify their export base, so moving from dependence on natural resource exports.
Natural resource exports have propelled Africa into the world's high-growth league.
A once-in-a-lifetime boom in natural resource exports to China is leveling off.
Another was rapid growth in commodity prices; many emerging economies rely heavily on natural resource exports.
THE POLITICAL ISSUE As rising nations industrialize, they compete for resources, or use resource exports as bargaining chips in disputes.
The Australian economy — measured at 1.4 trillion Australian dollars, or $1.36 trillion — depends heavily on foreign demand for resource exports.
Windfall revenues from foreign aid or natural resource exports can weaken governments' incentives to design or maintain efficient tax systems.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com