...is that the phrase "Dutch Disease" is not used by the dumbasses in suits (you know them by the title "economists") to describe this one trick pony growth story.
This chart above is the whole decade of Peru's exports. Traditional exports apart from hard rock mining (i.e. fishing, agro, oil&gas) have hardly changed. Non-trad exports (some agro produce such as avocados and asparagus, then textiles, wood and paper, non metallic minerals and any product further up the value added chain) have hardly changed, either. The whole of Peru's growth is based on mining and the dumbasses in suits that point to Venezuela's utter dependence on oil exports then ignore Peru's utter dependence on metals are either deliberately skewing reality to prove a political point or they are, to quote the vernacular, simply TEH STOOOOPID.
Dutch Disease: coming to an economic miracle near you soon (if China decides to stop buying metals all of a sudden). Kow-Tow, Twobreakfasts....Kow-Tow.
Dutch Disease: coming to an economic miracle near you soon (if China decides to stop buying metals all of a sudden). Kow-Tow, Twobreakfasts....Kow-Tow.
