How the World's Richest Country Lost 90% of its GDP

Nehru, a small Pacific island, experienced an economic boom due to phosphate mining, becoming the richest country per capita. However, mismanagement, environmental degradation, and health crises led to a severe economic decline. Efforts to diversify the economy, including offshore banking, failed. Today, Nehru relies on foreign aid and detention centers for economic stability.

What is the natural resource curse as discussed in the context of Nehru?

• A phenomenon where natural resources lead to economic prosperity

• A situation where natural resources cause long-term economic harm

• A condition where natural resources are evenly distributed

• A scenario where natural resources are used for technological advancement

What was the primary natural resource discovered on Nehru?

• Phosphate

• Gold

• Oil

• Coal

Which country initially exploited Nehru's phosphate resources?

• Australia

• Germany

• United States

• Japan

What was a major consequence of Nehru's economic boom?

• Technological advancements

• Population decline

• Increased agricultural production

• A significant health crisis

What was one of the health issues faced by Nehru due to lifestyle changes?

• Vitamin deficiency

• Infectious diseases

• Obesity epidemic

• Malnutrition

What strategy did Nehru attempt to diversify its economy?

• Developing a tech industry

• Building a tourism sector

• Offshore banking

• Investing in agriculture

Why did Nehru's offshore banking industry fail?

• Technological limitations

• Lack of international interest

• Strict regulations

• International pressure and mismanagement

What was a major factor in Nehru's economic collapse?

• Discovery of new resources

• Successful diversification

• Depletion of phosphate and poor investments

• Increased foreign aid

What is Nehru's main source of revenue today?

• Tourism

• Agriculture

• Manufacturing

• Outsourced detention centers

How does Nehru's current GDP per capita compare to the global average?

• Almost exactly in line

• Significantly below

• Significantly above

• Slightly above