To try everything Brilliant has to offer for free for a full 30 days, visit brilliant.org/hoser. You’ll also get 20% off an annual premium subscription.
It’s geographical proximity to Europe and North Africa definitely gives it the edge over Sao Tome. The only major economy close to Sao Tome is Nigeria, and I’m sure most Nigerians probably don’t even know they exist 💀
@@vardekpetrovic9716 220 000 in the 2023 estimate from wiki. I've been to sao tome, wonderful people. The island is offers plenty of food as is. So, they are poor but don't lack food and shelter. They also need to decide from the various models available which suits best for their aspirations. Sometimes people prefer to not get rich and keep the paradise (the island is a paradise of natural beauty) for themselves. Foreigner might come as rude to them (they have a very polite and proper way culturally). So, I don't know, I just know is fully up to them, thru their democratic institutions to decide.
@@vardekpetrovic9716 still their problem. It's a small group of people, they mostly know each other as if aquaintance, like a small city. If there is corruption is because they allow it. When there was an atempted coup (aux par with the ones felt in other parts of africa recently), the citizens took to the streets and blocked the coup guys from usurping the elected power seats. The only thing I can add that isn't in their hands is portugal, angola and brazil medeling, mostly portugal (also with their own respective corruption). It's a situation like iceland, so few people that it's almost possible to contact politicians via simple phone call.
Genuine question here my friend, as Venezuelan, what does the average Venezuelan genuinely think about taking over Guayana? I don’t mean any disrespect or anything like that, just genuinely interested. Peace be with you.
@niyanlan8928 short version is that we believe the terrotory is venezuela's to claim. Long version is that Venezuelans have been told growing up the territory of Guyana esequiba belongs to Venezuela, It's in every history textbook as a zone in reclamation. The history of that claim goes back centuries, the lines were drawn pretty arbitrarily by the British right over existing venezuelan territorial claims, and in further litigations we ended up being cheated out of that land in the early 1900s. My understanding is we had agreements with Guyana not to exploit the resources of the zone until the claims were resolved but the Guayanese government. Breached those agreements. That's why Venezuela is so pissy about it and could potentially go to war for it. Venezuelans don't know war and are right now in a horrible position so I doubt that would happen and we would just have to resign to the claim.
@@capnseriousnap that’s really interesting to hear. I suspect such things don’t get reported fairly outside South America and it’s really good to hear what people actually believe. Stay safe and take care.
A lot of petrostates go through something like what your country did (only they tend to have their worst inflationary periods have averages of 30% most of the time, sometimes reaching 1000% for the less competent states, but nothing like the Bolivar's drop in value) but usually they need to find the oil to start the same playbook.
@@niyanlan8928 well maybe they aren't listened to because the people of Guyana Essequibo are the ones who should be asked, considering, you know, they live there. Not to mention, Venezuela used to accept Guyana's independence in the past. they just changed it and rewrote the history books
@AlphaAndDeltaCh does anyone else remember when there was like a country balls community Pepperidge farms remembers seriously tho what happend to that i thought it was goofy in a good way
Although I don’t mind countryballs representing countries (despite how admittedly common that type of content is), I definitely like it when creators portray countries as something they’ve made *themselves* that can be expanded for any arbitrary amount of states. For example, CGP grey has the stickman icon for all of his characters, and represents countries with flags on skirts. And of course, hoser has the flags on animals.
Calling the Netherlands a 'resource poor nation' is just not correct. The Groningen Gas Field is the largest in Europe and was a huge part of Dutch economic growth throughout the 60s and 70s. You also mention Dutch disease about 3 minutes later...
Which caused the Dutch disease mentioned in the video. But tbh other than gas, clay and fertile soil we as a river delta in north-western Europe aren't the richest in natural resources.
This is the most my country Cabo Verde will be noticed. I just left form visiting family last week. It was my first time in Cabo Verde after 4 years. There were new resorts being built and way more tourists than before. I see a bright future for my country!
kela é parti positivo ma parti negativo é ki populason jovem sa ta emigra ou planea emigra. dali a uns anos nka ta surpreendeba si cabo verde kumesa ta perdi populason drasticamenti dja nu desenvolvi txeu ma ainda tem txeu kz fazi. e kes ku mas talento, mas estudo tudu sta ta decidi bai ses caminho em vez di fica pamo ka tem oportunidadis na carreras ku mas especialidadi especialimenti fora di empregos di estado ou alguns pokus empresas publico
@@FlanPoirot Tem definitivamente razão, em Cabo Verde a nossa força de trabalho é cada vez menor a cada ano. Precisamos de crescer, mas ao mesmo tempo manter a nossa cultura
Sounds like Cape Verde has the same kind of economy as Iceland: fishing, fish processing, and tourism. Fun fact: Cape Verde has frequently been ranked as the freest press in the world.
@@harrygroundwater2590Australia has some of the best innovation in the world. And a strong economy. Maybe the US or Canada would be better to show but still Australia isn’t bad.
I wasn't expecting you to talk and even going in-depth about my homeland, Cabo Verde. We still have a lot to grow, but this video was a good representation of our country's situation ❤
@@satyasankalpapanigrahi9416Nigeria has our own problems, we need to help ourselves before we can help others. I hope one day we’ll be wealthy enough to help elevate our poorer neighbours
@@satyasankalpapanigrahi9416 Our government doesn't even care about its citizens. The Northern half of our country is still overrun by terrorists despite how much aid the US has sent to us.
Idk if everyone realizes just now energy dense a barrel of oil is, translated into calories it's 25months of working every single day, no days off distilled down into a black sludge. I can see why wars are fought over this, if one of those releaves me two years of labor I'd do a whole lot for it too.
And that's in the *unrefined* state. Look to gasoline or jet fuel and DAYUM *To be fair it still needs oxygen as a catalyst but that's plentiful in earth atmosphere and ocean
Another example tiny ‘island’ petro state would be Brunei. Oil had been discovered and developed since early 20th century yet national progress had been so so slow.
Especially compared to Malaysia, who has raced up to the top of middle income countries and is pretty much considered on the verge of being "developed".
I'd argue once the oil runs out Brunei would be in a better place than the typical petrostates. Brunei doesn't overspend on high-maintenance infrastructure that NEEDS oil money to keep up (Dubai). Right now from all the Bruneians I know it's just a comfortable place to live but not really to find growth
@@cloroxbleach9222 Surprisingly I agree with you. Your comments make me pause and think and, hell yeah. If the oil runs out, there Will literally be no life difference for normal Bruneian. It isnt like in the Middle East where the citizens are literally rich, Bruneian are just like normal Malaysian. Brunei is more akin to Equitorial Guinea than it is to the Middle East. Where the wealth mostly go on top and to massive infrastructure projects, but not extreme welfare like the qataris and Emirates received.
As far as we know, *Norway* is the only country that managed to thrive thanks to _petroleum_ instead of ending in corruption like the rest of the world.
Guyana is actually growing a lot in a positive way after they found oil, knowing now exactly what the others did wrong. And now Venezuela wants to gobble them up for that.
lol I love how everyone is complaining that it took you so long to upload while my ass is sitting here with no complain cuz i just discovered your channel yesterday, I think I shouldn't get used to it then 😢
Channels that take the longest are often the best ones. My suggestion: Subscribe to tons of channels that make good stuff, some taking ages, others going often. That way there's rarely a shortage!
It's an unfortunate reality of island life or living remotely in general. Without exports of some kind that economy dwarfs, preventing infrastructure from being built. They're not getting benefit of global trade. When vital resources like food, medicine, energy must be imported, it plays out as inflation because of the shipping and handling aspect. An Island like Hawaii does better because it's not limited to tourism. Pineapple, macadamia nuts, military bases, marine sciences & astronomy. Statehood allows for a more diverse economy and regular investment. Contrast it with Puerto Rico or most others in Caribbean chain. No one would have heard of Cayman Island if not for their offshore banking sector offering favorable rates & discretion rivaling Switzerland.
I like his channel too, but he never delves into the idea that some of these countries have a lack of skilled labor due to having such a low IQ on average within their population. He leaves a lot of "risky" theories out. I mean if the average IQ is in the 70s, of course they won't have a space program any time soon lol.
Video 1: Can you make a video about tragic economic history of Czechia and Slovakia and the second rise of Czechia in early 2000s? Anyway great video once again.
Not Slovenia Land!!! 😆 TBH recently I found out Not Slovenia Land, despite its comparatively low development base (to others in Central Europe), has been doing even better than Poland, which is often cited as post-Soviet success story. It’s been a sleeper success really.
Me: wathing interesting video about economics and its political, societal and geographical context. My brain the whole time: What animal would hoser choose to represent Czechia?
Norway is a good example of how to do oil right. Norway's GDP is 10-35% oil money, yet they are one of the happiest and wealthiest nations in the world. Though they had the advantage of being a stable, reasonably wealthy nation even before they started pumping.
Indeed, finding resources after you already have stable institutions and a halfway decent economy is usually a good thing because new wealth can be reinvested into existing industries. While rich countries can occasionally get Dutch disease, this usually isn't as severe as it is in developing nations. A good example of how resource wealth works in rich nations would be Australia, which uses its resource wealth to find other parts of its economic engine.
@@jonathanbowers8964True. I mean Dutch disease didn't even ruin the Netherlands, because they already had a stable constitutional government for over a 100 years (if you ignore WW2). The gas money was spent too quickly, but the government remained incredibly stable.
Because norway already had a strong government that wasnt a lot influenced by foreign countries, It was also industrialized. These other countries fail because they 1) they made business deals with other developed countries that heavily asserted them as an only-oil exporting country, not allowing national industries to grow, 2) international friction (sanctions by the USA and heavy funding of rebelious armed groups) and 3) Most of these countries were already colonized by european powers, and they still hold a big political influence there, which leads to policies that can heavily favour european oil companies instead of national companies
Note for the last corruption stat, corruption perception is based on opinion and democracies tend to be lower despite having less absolute corruptions.
As a Santomean, someone from Sao Tome, I am quite glad to see people noticing that small island. It's a wonderful place, mostly recommended because of its breathtaking beaches, but still, there is a long way to go before it's well-developed. Unfortunately, corruption rules our country, which is slowing its growth. In the past few years, numerous young citizens have gone abroad to study and work, hoping one day to go back and invest in it.
7:40 fun fact: Sonangol, the angolan company, usually just rents their allocations to other countries. They don't have the means to extract oil by themselves.
So Africa what really is our problem. Speaking as a Ghanaian. I was optimistic when I saw the Sonangol bit but now you’ve ruined it. Can we be fixed at all?
I think there's one country in Africa which did manage to resist the resource curse to some extent, and that's Botswana. I think that was primarily because said resources (mainly high quality diamonds) were discovered when Botswana already had a stable government, just after independence.
I understand if petrostate can't easily pivot to manufacturing. But the thing is petrostate should easily pivot to either tourism industry and financial industry. The first require stupid amount of capital (which they have because of oil) and the latter require tax lenient society (which they can because of oil). The problem is both require stable and corrupt free society.
Tourism Industries yes, probably. But not financial hubs. You don't really want to be just a place to store money, you want them to invest that money in actual work (banks, customer service, financial service etc.) Reality is, being a financial hub is not just about no taxes, and stable government. But it depends alot on geography too.
This video just goes to show that a country only thinking about natural resources will have a hard time in the long run compared to a country without natural resources that has political stability, property rights, and a good education system, all of which are not physical things.
Been to sal in 2021. They just finished new paving on the main street. But i must say: If they can get rid of the agressive souvenir salesmen then... the salt spa & the fusion kitchen was impressive. But my 3 cell plan doesnt cover cabo verde.
I've never understood how corruption/inequallity gets quite so bad. It seems like at some point there are only so many comforts and status symbols you can buy before you start to think "Hey maybe I should start helping my country grow"
The first glimpe of this video i had was during my rrobotics class. We were watching videos with VR goggles when i took the phone out of the goggle, searched your channel and this video appared. Also, Cabo Verde and São Tomé and Príncipe are my favorite countries, which made this even better.
Another issue that most oil rich countries struggle with comes with value added to raw goods. Usually mineral deficient countries convert those goods into something more finished and eventually sell it back to the mineral rich countries, obviously putting them at a deficit. Oil should be used to fund education in which more research can be done with the resources that they have.
Norway is probably the best case study in how to handle oil and similar resources. But very few countries have the type of foresight, culture (including being already pretty good), and political mechanisms to do that. In fact I think it's really only Norway who has implemented it so well.
They had a pre existing culture, but also witnessed their cousin across the pond deal with the madness of the tulip craze centuries ago. In hindsight I'm thinking that economic impact cost more than they gained. I still have tulips from Holland in my yard. No one needs to second mortgage a home to buy one either.
Why does a small island need an army anyway? Personality based politics, small army and potential oil-I think that’s Gordon Ramsay‘s recipe for military Coups
I thought I was tripping the fuck out hearing that baiana song in the backround from 11:29 to 13:26, I never noticed you put super quiet music for whole videos before its a nice pleasing touch
3 месяца назад+3
Democracy doesn't guarantee prosperity. Good governance does, if the people are hardworking. Which most people are actually.
"machine-heavy" doesn't describe all mining. Michael Ross at UCLA has done extensive work on rentier states, and oil is kind of on the extreme side of resource extraction in terms of its capital:labor input ratio.
every country i saw in order: 0:12 Cabo Verde and Sao tome and Principe (same time) 0:24 Portugal 1:10 Gabon 1:10 Equatorial Guinea 1:10 Nigeria (yes thats in order i slowed it down) 1:25 UAE 1:27 Canada 2:05 Venezuela 2:06 Iran 2:07 Russia 2:10 Japan 2:10 Netherlands 2:25 Bolivia 2:30 South Korea 2:48 Australia 2:59 Botswana 3:08 USA 3:27 Zimbabwe more soon
I’m from Cape Verde and I really agree. But, in my view, since the end COVID-19 period, the country is discretely facing many problems and the newest generation a anything but promising and pathetic.
You do explain raw material influences on countries very well!! I would love to get your opinion on the situation in some countries in Easter Europe like Poland or Albania(i heard it has some huge oil fields and big chrome mines) thanks!
Me: wathing interesting video about economics and its political, societal and geographical context. My brain the whole time: What animal would hoser choose to represent Czechia?
Hoser, you need to discuss oil-resource countries in the context of Dutch Disease. William Spaniel has a very good video about the paradox of oil and poverty. Otherwise, keep the videos coming! You‘re one of the few YT channels that pays attention to countries ignored by the West.
bro is really researching Capo verde to tell us how to run a country, bro has more sense than politicians by studying countries that no one has ever heard
No ways have you seen how millions of people live in South Africa? Half the people there have a quality of life comparable to the richest countries in the world (although the other half are poor or working class)
@@hello-friend990 South Africa is full of corruption and it's a quarter of the country that has great living quality The rest all live in slumps or even worse
@@hello-friend990 what? South África is in a major crisis long gone its former glory . Even a large percentage of white people are poor nowadays. Economy is crumbling and people are getting poorer. Botswana nowadays is the best state to live in África.
*Implies the US developed the assets and triggered the resource curse. *immediately shows four European/African supermajors and zero American companies
They couldn’t have done this politically at the time. Portugal had just had the Carnation revolution which led to the end of the dictatorship and began transfer to a full democracy. It would have been incredibly unpopular to try and hold onto these islands that wanted the same thing as the people now in charge in Portugal, freedom and democracy. The dictatorship also ended because they wanted to hold on to Angola and Mozambique and were willing to do conscription to try and win these wars(that’s the whole reason the military revolted and started the Carnation revolution) I think they could have been better off within Portugal but it’s ultimately their choice to make.
@@conserva-chan2735 Yeaaah, but then you look at places like New Caledonia which is absolutely abused by the French and has a practically old school colonial vibe, and you can see how it can definitely not turn out quite so great. Now to be fair France has had some particularly bad bouts of colonialism but like, its definitely a gamble. Some former colonies that chose to stay were better off than their counterparts (like Mayotte), some were better off independent. I really don't know how Sao Tome would have turned out, though considering its relatively short history of habitation maaybe it would have turned out alright since there wasn't a pre age of discovery population with old traditions?
@StuffandThings_ for Cabo Verde they'd likely just end up being like the Azores but a little bigger. They'd benefit from being in the Eurozone as well. They'd likely end up sharing the burden with the Canaries for being swarmed by British tourists. Sao Tome is more interesting though. I feel like the best parallel for them would be Reunion and Mauritius, which much like Sao Tome were uninhabited volcanic islands that became exhibit A plantation economies. Reunion to this day is still French, and benefitted immensely from the collapse of the French empire and became a major cultural center for Frenchmen leaving mainland Africa. I think it's the wealthiest French overseas area today, but don't quote me on that. Either way, I feel like the two Portuguese island colonies would've benefited far more from remaining Portuguese than becoming independent, given they didn't have any of the wars or instability related to their independence like Angola/Mozambique and unlike those two are far more culturally/ethnically Portuguese.
Cape Verde had much better education standards than most African countries at the time of the independence. Those 60% didn't compare badly wirh the rest of Africa quite on the contrary. Besides, many capeverdians were skilled members of the colonial administration and this made a huge difference.
Yeah, skilled administrators is a HUGE reason why Asian colonies were far more stable post independence when compared to colonies like many in Africa and why even islands like Haiti/Dominican Republic have such a huge difference in their histories despite having starting points. It's also why even slave heavy agriculturally based plantations sometimes fall apart (like Rhodesia) while others don't (like Brazil and the US): when the administrators leave after independence the country often stagnates or falls apart.
@@arthas640East asians are by far the most advanced developed Asian societies they are the closest to westerners. Everyone else in Asia is poor compared to the quality of life in Japan South Korea and China. Also city states like Singapore (even though it’s in Southeast Asia it’s population is majority Chinese) and Hong Kong are rich because they are majority East Asian.
@@punchfreneticallydot Yeah. It's hard to believe though that many of those countries were just as poor as the rest of asia not long ago. South Korea was basically a third world country in the 50s but by the 80s they were more advanced then virtually all of Africa.
To try everything Brilliant has to offer for free for a full 30 days, visit brilliant.org/hoser. You’ll also get 20% off an annual premium subscription.
nice vid
hi
RAD!
You really went all out with the editing having Baianá playing softly in the background. I love that song
Why nightcrawler instrumental?
I've been to Cape Verde. It has one thing going for it that Sao Tome can never have - short haul tourism flights from wealthy European countries.
It’s geographical proximity to Europe and North Africa definitely gives it the edge over Sao Tome. The only major economy close to Sao Tome is Nigeria, and I’m sure most Nigerians probably don’t even know they exist 💀
@@vardekpetrovic9716one thing missing in ur coment: do sao tomens want such plan?
Europe are richer, more stable and have more attractive looking pppl meanwhile iafrica is completely opposite, unfair
@@vardekpetrovic9716 220 000 in the 2023 estimate from wiki. I've been to sao tome, wonderful people. The island is offers plenty of food as is. So, they are poor but don't lack food and shelter. They also need to decide from the various models available which suits best for their aspirations.
Sometimes people prefer to not get rich and keep the paradise (the island is a paradise of natural beauty) for themselves. Foreigner might come as rude to them (they have a very polite and proper way culturally). So, I don't know, I just know is fully up to them, thru their democratic institutions to decide.
@@vardekpetrovic9716 still their problem. It's a small group of people, they mostly know each other as if aquaintance, like a small city. If there is corruption is because they allow it. When there was an atempted coup (aux par with the ones felt in other parts of africa recently), the citizens took to the streets and blocked the coup guys from usurping the elected power seats. The only thing I can add that isn't in their hands is portugal, angola and brazil medeling, mostly portugal (also with their own respective corruption). It's a situation like iceland, so few people that it's almost possible to contact politicians via simple phone call.
"If you find oil in your yard, don't even let your wife know about it"
-someone smart probably
Someone should have told Guyana this…
@@bababababababa6124and Venezuela, Angola, East Timor, I could go on
So you're saying The Beverly Hillbillies lied to us?!
Freedom gang will find out before your wife
Don't let any "eagle" fly past that either, 🦅🇺🇸🇺🇸🇺🇸
This is probably the most attention my country will ever get from the Internet.
Thanks hoser!
Viva São Tomé e Príncipe!
You guys are lucky. My country is on the Internet 24/7, too much attention. Sick of it
prob the USA@@blackoralArt
@@blackoralArt let me guess, japan
Cabo verde is almost always ignored...
Venezuelan here, can't believe how similar the playbook played to our country lol except they didnt even find the oil, insane
Genuine question here my friend, as Venezuelan, what does the average Venezuelan genuinely think about taking over Guayana? I don’t mean any disrespect or anything like that, just genuinely interested. Peace be with you.
@niyanlan8928 short version is that we believe the terrotory is venezuela's to claim. Long version is that Venezuelans have been told growing up the territory of Guyana esequiba belongs to Venezuela, It's in every history textbook as a zone in reclamation. The history of that claim goes back centuries, the lines were drawn pretty arbitrarily by the British right over existing venezuelan territorial claims, and in further litigations we ended up being cheated out of that land in the early 1900s. My understanding is we had agreements with Guyana not to exploit the resources of the zone until the claims were resolved but the Guayanese government. Breached those agreements. That's why Venezuela is so pissy about it and could potentially go to war for it. Venezuelans don't know war and are right now in a horrible position so I doubt that would happen and we would just have to resign to the claim.
@@capnseriousnap that’s really interesting to hear. I suspect such things don’t get reported fairly outside South America and it’s really good to hear what people actually believe. Stay safe and take care.
A lot of petrostates go through something like what your country did (only they tend to have their worst inflationary periods have averages of 30% most of the time, sometimes reaching 1000% for the less competent states, but nothing like the Bolivar's drop in value) but usually they need to find the oil to start the same playbook.
@@niyanlan8928 well maybe they aren't listened to because the people of Guyana Essequibo are the ones who should be asked, considering, you know, they live there.
Not to mention, Venezuela used to accept Guyana's independence in the past. they just changed it and rewrote the history books
I like how a lot of countries are portrayed as their national animals, its silly and better then countryball images
Yeah, well said,
I still like country balls though
@AlphaAndDeltaCh does anyone else remember when there was like a country balls community Pepperidge farms remembers seriously tho what happend to that i thought it was goofy in a good way
@@bagobones9891yeah
Although I don’t mind countryballs representing countries (despite how admittedly common that type of content is), I definitely like it when creators portray countries as something they’ve made *themselves* that can be expanded for any arbitrary amount of states.
For example, CGP grey has the stickman icon for all of his characters, and represents countries with flags on skirts.
And of course, hoser has the flags on animals.
@@SineFineBelliCh shut
Portraying Mexico as an axolotl is a stroke of genius
Why
Isn't it the national animal
@@Thegoldenaerobar2 ni
@@Thegoldenaerobar2No that’s the Golden Eagle, is right in the middle of our flag
@@Thegoldenaerobar2not but it’s native to only Mexico
Calling the Netherlands a 'resource poor nation' is just not correct. The Groningen Gas Field is the largest in Europe and was a huge part of Dutch economic growth throughout the 60s and 70s.
You also mention Dutch disease about 3 minutes later...
Facts
he also forgot about the dutch mental thorny tree branch stuck in the asshole
Which caused the Dutch disease mentioned in the video.
But tbh other than gas, clay and fertile soil we as a river delta in north-western Europe aren't the richest in natural resources.
It IS resource poor. Aside from Gas, what other resources does the Netherlands have that is valuable to the world economy?
Seriously? You have a gas field and that makes you resource rich? Hell nah.
Babe, wake up, Hoser uploaded. It's time to learn about the crippled state of world geopolictics and geoeconomics.
thanks babe, I cannot be more wake upped that Im NOW. :)
This is the most my country Cabo Verde will be noticed. I just left form visiting family last week. It was my first time in Cabo Verde after 4 years. There were new resorts being built and way more tourists than before. I see a bright future for my country!
kela é parti positivo ma parti negativo é ki populason jovem sa ta emigra ou planea emigra. dali a uns anos nka ta surpreendeba si cabo verde kumesa ta perdi populason drasticamenti
dja nu desenvolvi txeu ma ainda tem txeu kz fazi. e kes ku mas talento, mas estudo tudu sta ta decidi bai ses caminho em vez di fica pamo ka tem oportunidadis na carreras ku mas especialidadi especialimenti fora di empregos di estado ou alguns pokus empresas publico
My favorite musician Paul Pena comes from Cabo Verde
Viva nos terra 🇨🇻🇨🇻
@@FlanPoirot Tem definitivamente razão, em Cabo Verde a nossa força de trabalho é cada vez menor a cada ano. Precisamos de crescer, mas ao mesmo tempo manter a nossa cultura
oh yeah time to watch this while in the restroom
Pooping on company time my brother
@@whatsup7033 that's exactly how it's done 🤙
Yup, I can relate.
Boss gets a dollar, i get a dime, thats why i poop and watch h0ser on company time
Same here chief
Sounds like Cape Verde has the same kind of economy as Iceland: fishing, fish processing, and tourism.
Fun fact: Cape Verde has frequently been ranked as the freest press in the world.
12:47 I'm Portuguese and bro literally posted this video on the 50 years celebration of the 25 de Abril or Carnation Revolution
me too brudda
It's most likely not a stroke of luck. He knew what he was doing.
haha that's so cheeky and I love it!
My birthday is on such a cool anniversary? Awesome!
Well fuck we could have gotten rich from that oil. Democracy is better though.
I'm here in Portugal wishing all the best to my brothers ans sisters from Cabo Verde and São Tomé e Príncipe, I want to visit both places sooo much!!
>Without stifling innovation
>Show australia
What about them?
@@tomlxyzno innovation
@@harrygroundwater2590Australia has some of the best innovation in the world. And a strong economy. Maybe the US or Canada would be better to show but still Australia isn’t bad.
@@harrygroundwater2590 in my industry (energy conversion and storage), Australia is doing just fine when it comes to innovation.
@@darkbrightnorth what innovation Australia did...!!
Name some of them
“Wait… it’s all geography”
Hoser: *Always has been*
I wasn't expecting you to talk and even going in-depth about my homeland, Cabo Verde. We still have a lot to grow, but this video was a good representation of our country's situation ❤
As a Nigerian I’m happy our close neighbours Sao Tome is getting attention, nobody ever talks about them
Saotome is so small. Why Nigeria isn't helping them...
@@satyasankalpapanigrahi9416Nigeria has our own problems, we need to help ourselves before we can help others. I hope one day we’ll be wealthy enough to help elevate our poorer neighbours
@@satyasankalpapanigrahi9416
Our government doesn't even care about its citizens. The Northern half of our country is still overrun by terrorists despite how much aid the US has sent to us.
@@satyasankalpapanigrahi9416 , Nigeria has its own issues to deal with. Nigeria is huge and it has to take care of all its areas.
(just like half of the world)
That has to be the biggest plot twist of any Hoser video. I saw that coming about as much as all those oil companies did.
Idk if everyone realizes just now energy dense a barrel of oil is, translated into calories it's 25months of working every single day, no days off distilled down into a black sludge.
I can see why wars are fought over this, if one of those releaves me two years of labor I'd do a whole lot for it too.
thats an interesting outlook
I should drink the oil you say? Mmmmh
@@thegames4565looks tasty anyway
And that's in the *unrefined* state. Look to gasoline or jet fuel and DAYUM
*To be fair it still needs oxygen as a catalyst but that's plentiful in earth atmosphere and ocean
Another example tiny ‘island’ petro state would be Brunei. Oil had been discovered and developed since early 20th century yet national progress had been so so slow.
Cause the sultan needs his 150th Ferrari and 1 millionth instagram thot
Especially compared to Malaysia, who has raced up to the top of middle income countries and is pretty much considered on the verge of being "developed".
I'd argue once the oil runs out Brunei would be in a better place than the typical petrostates.
Brunei doesn't overspend on high-maintenance infrastructure that NEEDS oil money to keep up (Dubai). Right now from all the Bruneians I know it's just a comfortable place to live but not really to find growth
@@cloroxbleach9222
Surprisingly I agree with you. Your comments make me pause and think and, hell yeah. If the oil runs out, there Will literally be no life difference for normal Bruneian. It isnt like in the Middle East where the citizens are literally rich, Bruneian are just like normal Malaysian. Brunei is more akin to Equitorial Guinea than it is to the Middle East.
Where the wealth mostly go on top and to massive infrastructure projects, but not extreme welfare like the qataris and Emirates received.
@@Croz89 I'm a Malaysian myself and idk what are you talking about. Clearly you have never been to Malaysia.
As far as we know, *Norway* is the only country that managed to thrive thanks to _petroleum_ instead of ending in corruption like the rest of the world.
fr😊
Guyana is actually growing a lot in a positive way after they found oil, knowing now exactly what the others did wrong.
And now Venezuela wants to gobble them up for that.
Malaysia
And that is only because of Scandinavia being basically a utopia. Nothing achievable for us mere mortals.
USA
There are 2 lesson here. Number 1: dont put all of YOUR eggˋs in 1 basket! Number 2: dont count YOUR chickens til the eggˋs are hatched!
eggs not egg`s 😂
Ancient forgotten knowledge
lol I love how everyone is complaining that it took you so long to upload while my ass is sitting here with no complain cuz i just discovered your channel yesterday, I think I shouldn't get used to it then 😢
Nice
Ngl it's not even a long time, it usually takes him about 2-3 weeks to upload a video
I found him 6h after the Maldives video
He has been babe for a bit now for me. Always look forward to his videos as I listen to them as I work
Channels that take the longest are often the best ones. My suggestion: Subscribe to tons of channels that make good stuff, some taking ages, others going often. That way there's rarely a shortage!
In Massachusetts, I've met quite a few Cape Verdeans in the warehouses. They send alot of money back home.
It's an unfortunate reality of island life or living remotely in general. Without exports of some kind that economy dwarfs, preventing infrastructure from being built. They're not getting benefit of global trade. When vital resources like food, medicine, energy must be imported, it plays out as inflation because of the shipping and handling aspect. An Island like Hawaii does better because it's not limited to tourism. Pineapple, macadamia nuts, military bases, marine sciences & astronomy. Statehood allows for a more diverse economy and regular investment. Contrast it with Puerto Rico or most others in Caribbean chain. No one would have heard of Cayman Island if not for their offshore banking sector offering favorable rates & discretion rivaling Switzerland.
I’m a Capeverdean and I very much appreciated your video. Very accurate, informative and unbiased. Congratulations for this.
Hello from Sal Island 🏝️
My eyes literally widened a little when I got to the part where he says the island doesn't actually have oil
The hype was enough to summon the spirit of Scrooge McDuck and ruined the culture it appears.
🇨🇻CV mentioned 🎉
this channel deserves more subs. you have a really solid understanding of geopolitics and the ability to explain them. great editing too.
I like his channel too, but he never delves into the idea that some of these countries have a lack of skilled labor due to having such a low IQ on average within their population. He leaves a lot of "risky" theories out. I mean if the average IQ is in the 70s, of course they won't have a space program any time soon lol.
Video 1: Can you make a video about tragic economic history of Czechia and Slovakia and the second rise of Czechia in early 2000s? Anyway great video once again.
Not Slovenia Land!!! 😆
TBH recently I found out Not Slovenia Land, despite its comparatively low development base (to others in Central Europe), has been doing even better than Poland, which is often cited as post-Soviet success story. It’s been a sleeper success really.
Me: wathing interesting video about economics and its political, societal and geographical context.
My brain the whole time: What animal would hoser choose to represent Czechia?
I’ve wondered before whether that would be the reason for very high meth usage on Czechia versus the rest of the EU
Here before the thumbnail changes 9826 times
Thanks!
Norway is a good example of how to do oil right. Norway's GDP is 10-35% oil money, yet they are one of the happiest and wealthiest nations in the world.
Though they had the advantage of being a stable, reasonably wealthy nation even before they started pumping.
But that is only posiible because of Scandinavia being basically a utopia. Nothing achievable for us mere mortals.
Indeed, finding resources after you already have stable institutions and a halfway decent economy is usually a good thing because new wealth can be reinvested into existing industries. While rich countries can occasionally get Dutch disease, this usually isn't as severe as it is in developing nations. A good example of how resource wealth works in rich nations would be Australia, which uses its resource wealth to find other parts of its economic engine.
@@jonathanbowers8964True. I mean Dutch disease didn't even ruin the Netherlands, because they already had a stable constitutional government for over a 100 years (if you ignore WW2). The gas money was spent too quickly, but the government remained incredibly stable.
Because norway already had a strong government that wasnt a lot influenced by foreign countries, It was also industrialized. These other countries fail because they 1) they made business deals with other developed countries that heavily asserted them as an only-oil exporting country, not allowing national industries to grow, 2) international friction (sanctions by the USA and heavy funding of rebelious armed groups) and 3) Most of these countries were already colonized by european powers, and they still hold a big political influence there, which leads to policies that can heavily favour european oil companies instead of national companies
Note for the last corruption stat, corruption perception is based on opinion and democracies tend to be lower despite having less absolute corruptions.
Yes - autocracies have higher risk (to simply investigate)
Cape Verde could consider developing its tourism industry and be like Canary Islands imo
its not poor by African standards
Canary Islands have that sweet free Spanish money, which Cape Verde doesn't.
Both Cabo Verde and Sao Tome should've remained Portuguese. They would've become the Canaries and Reunion of Portugal respectively.
They do invest in tourism. Sal island is pretty much all resorts and hotels
@@matiasguardaredes Yea capo verde is a really beatiful place.
@@conserva-chan2735 Cabo Verde did just fine by itself.
As a Santomean, someone from Sao Tome, I am quite glad to see people noticing that small island. It's a wonderful place, mostly recommended because of its breathtaking beaches, but still, there is a long way to go before it's well-developed. Unfortunately, corruption rules our country, which is slowing its growth. In the past few years, numerous young citizens have gone abroad to study and work, hoping one day to go back and invest in it.
Nauru is a case in point, though the resource is guano and that appears to have suffered badly through corruption and thievery.
7:40 fun fact: Sonangol, the angolan company, usually just rents their allocations to other countries. They don't have the means to extract oil by themselves.
So Africa what really is our problem. Speaking as a Ghanaian. I was optimistic when I saw the Sonangol bit but now you’ve ruined it. Can we be fixed at all?
That’s true I’m angolan
@@dateymintah9585nope
I think there's one country in Africa which did manage to resist the resource curse to some extent, and that's Botswana. I think that was primarily because said resources (mainly high quality diamonds) were discovered when Botswana already had a stable government, just after independence.
Libya was also doing pretty good before is was liberated.
@@Heretiksb"liberated"
@@mvxtrix why do people keep forgetting Gaddafi was a literal pedophile thst kept a child harem on his palace, he was not a good dude bro
Always cool to hear about Cabo Verde, thxs
Like a party going through a dungeon and backstabbing each other for an empty chest
people who won the lottery
vs
people who got rich by doing actual work
Very dangerous lottery I will say
Most countries with resources fail
I understand if petrostate can't easily pivot to manufacturing. But the thing is petrostate should easily pivot to either tourism industry and financial industry. The first require stupid amount of capital (which they have because of oil) and the latter require tax lenient society (which they can because of oil).
The problem is both require stable and corrupt free society.
RUclips wanted me to rate your comment. I gave it a 10/10 and I also agree
Tourism Industries yes, probably.
But not financial hubs.
You don't really want to be just a place to store money, you want them to invest that money in actual work (banks, customer service, financial service etc.)
Reality is, being a financial hub is not just about no taxes, and stable government. But it depends alot on geography too.
I'm Caboverdian, and I approve this video!
I have been checking the channel daily in hopes that there was an upload I missed, always love a new h0ser video!!
This video just goes to show that a country only thinking about natural resources will have a hard time in the long run compared to a country without natural resources that has political stability, property rights, and a good education system, all of which are not physical things.
Well, yeah
shocking
Been to sal in 2021. They just finished new paving on the main street.
But i must say: If they can get rid of the agressive souvenir salesmen then...
the salt spa & the fusion kitchen was impressive. But my 3 cell plan doesnt cover cabo verde.
Always a good day when hoser provides
You really went all out with the editing having Baianá playing softly in the background
I thought I was going crazy hearing it lol
I've never understood how corruption/inequallity gets quite so bad. It seems like at some point there are only so many comforts and status symbols you can buy before you start to think "Hey maybe I should start helping my country grow"
The best channel to learn about things😊
Great explanation of Dutch disease. I've always struggled to out it together
So basically oil states work out when they invest the oil revenue back into the country instead of pocketing it. Who would’ve thought.
🇨🇻 It's always a joy to see small countries like mine being recognized 🇨🇻
The fact this video was posted in April 25th 🌹🇵🇹🇨🇻🇸🇹
The first glimpe of this video i had was during my rrobotics class. We were watching videos with VR goggles when i took the phone out of the goggle, searched your channel and this video appared. Also, Cabo Verde and São Tomé and Príncipe are my favorite countries, which made this even better.
First time São Tome is relevant in any degree
i love these comparison videos please keep it up
10:30 that was a plot twist I definitely did NOT expect.
Another issue that most oil rich countries struggle with comes with value added to raw goods. Usually mineral deficient countries convert those goods into something more finished and eventually sell it back to the mineral rich countries, obviously putting them at a deficit. Oil should be used to fund education in which more research can be done with the resources that they have.
Finally i've been waiting for this
Norway is probably the best case study in how to handle oil and similar resources. But very few countries have the type of foresight, culture (including being already pretty good), and political mechanisms to do that. In fact I think it's really only Norway who has implemented it so well.
They had a pre existing culture, but also witnessed their cousin across the pond deal with the madness of the tulip craze centuries ago. In hindsight I'm thinking that economic impact cost more than they gained. I still have tulips from Holland in my yard. No one needs to second mortgage a home to buy one either.
Why does a small island need an army anyway? Personality based politics, small army and potential oil-I think that’s Gordon Ramsay‘s recipe for military Coups
2:12 the Netherlands is very resource rich with the biggest natural gas field in Europe lol they got super rich off it in the late 1900’s
Yeah I wonder where they discovered dutch disease, probably the dutchy of luxembourg?😅
4:39
imagine if they were right next to eachother that would be crazy
what would be crazy about it?
Like Haiti and Dominican Republic
I thought I was tripping the fuck out hearing that baiana song in the backround from 11:29 to 13:26, I never noticed you put super quiet music for whole videos before its a nice pleasing touch
Democracy doesn't guarantee prosperity.
Good governance does, if the people are hardworking. Which most people are actually.
I was so happy to see hoser uploaded
Capeverdean here, I couldn't identify which animal Hoser was using to represent Cape Verde.
A dolphin or a manatee ?🤔 But we don't have manatees there
Um manatí
"machine-heavy" doesn't describe all mining. Michael Ross at UCLA has done extensive work on rentier states, and oil is kind of on the extreme side of resource extraction in terms of its capital:labor input ratio.
Idk if this was actually planned, but today is Portugal's Carnation Revolution Day which lead to the independence of both of these countries ✊
As an Cape verdean and having an portuguese and Santo Tomé and Principe ascendent, I couldn't agree more with this video
Babe, new hoser lore jsut dropped
every country i saw in order:
0:12 Cabo Verde and Sao tome and Principe (same time)
0:24 Portugal
1:10 Gabon
1:10 Equatorial Guinea
1:10 Nigeria
(yes thats in order i slowed it down)
1:25 UAE
1:27 Canada
2:05 Venezuela
2:06 Iran
2:07 Russia
2:10 Japan
2:10 Netherlands
2:25 Bolivia
2:30 South Korea
2:48 Australia
2:59 Botswana
3:08 USA
3:27 Zimbabwe
more soon
I’m from Cape Verde and I really agree. But, in my view, since the end COVID-19 period, the country is discretely facing many problems and the newest generation a anything but promising and pathetic.
That's so true!
Holy shit what did we do to deserve a 20 minute hoser video? Give a like ppl were blessed
You do explain raw material influences on countries very well!! I would love to get your opinion on the situation in some countries in Easter Europe like Poland or Albania(i heard it has some huge oil fields and big chrome mines) thanks!
Great video!
That was a wild twist!
16:10 “they should put a couple more mirrors in here so I can stare at myself” beat brings back memories
I went to both São Tomé and Cabo verde and São Tomé was quite poor in comparison but both had great beaches
Is that a Elephant Shrew you made Sao Tome into? Whatever it is, it's so freaking cute!
"[Cabo Verde] ranks as the African country with the lowest corruption" -Seychelles would like to have a word here
i think nauru island would also be a great video topic! good video non the less hoser one of the best youtubers in the platform
My favorite youtuber to listen to while playing EU4
Me: wathing interesting video about economics and its political, societal and geographical context.
My brain the whole time: What animal would hoser choose to represent Czechia?
Hoser, you need to discuss oil-resource countries in the context of Dutch Disease. William Spaniel has a very good video about the paradox of oil and poverty. Otherwise, keep the videos coming! You‘re one of the few YT channels that pays attention to countries ignored by the West.
the coup in Portugal happened in 25 april, today : )
bro is really researching Capo verde to tell us how to run a country, bro has more sense than politicians by studying countries that no one has ever heard
In 10 years Cabe verde will be the most developed country in Africa
No ways have you seen how millions of people live in South Africa? Half the people there have a quality of life comparable to the richest countries in the world (although the other half are poor or working class)
@@hello-friend990 South Africa is full of corruption and it's a quarter of the country that has great living quality
The rest all live in slumps or even worse
It's Mauritius and Botswana
@@hello-friend990 what? South África is in a major crisis long gone its former glory . Even a large percentage of white people are poor nowadays. Economy is crumbling and people are getting poorer. Botswana nowadays is the best state to live in África.
It has a lot of potential
Nobody talking about how bro casually put the night crawler instrumental in the back🔥
Did i hear someone say oil? 🇺🇸🇺🇸🇺🇸🇺🇸🦅🦅🦅🦅🦅
*Implies the US developed the assets and triggered the resource curse.
*immediately shows four European/African supermajors and zero American companies
One of your best videos In my opinion. You are a king of explaining complex ideas of economics using simple words. Thanks for the knowledge man❤
i forgot these places existed
'im getting huge oil vibes here' is the wildest image ive ever seen, what a twist
Hoser is probably canadian of the year
Name of the song in the background at 11:30?
Frankly, Portugal just should've kept them both
They couldn’t have done this politically at the time. Portugal had just had the Carnation revolution which led to the end of the dictatorship and began transfer to a full democracy. It would have been incredibly unpopular to try and hold onto these islands that wanted the same thing as the people now in charge in Portugal, freedom and democracy.
The dictatorship also ended because they wanted to hold on to Angola and Mozambique and were willing to do conscription to try and win these wars(that’s the whole reason the military revolted and started the Carnation revolution)
I think they could have been better off within Portugal but it’s ultimately their choice to make.
@IAmWarden. oh I understand why Portugal decolonized, I just think Sao Tome and CV easily could've become territories similar to French ones.
@@conserva-chan2735 Yeaaah, but then you look at places like New Caledonia which is absolutely abused by the French and has a practically old school colonial vibe, and you can see how it can definitely not turn out quite so great. Now to be fair France has had some particularly bad bouts of colonialism but like, its definitely a gamble. Some former colonies that chose to stay were better off than their counterparts (like Mayotte), some were better off independent. I really don't know how Sao Tome would have turned out, though considering its relatively short history of habitation maaybe it would have turned out alright since there wasn't a pre age of discovery population with old traditions?
@StuffandThings_ for Cabo Verde they'd likely just end up being like the Azores but a little bigger. They'd benefit from being in the Eurozone as well. They'd likely end up sharing the burden with the Canaries for being swarmed by British tourists.
Sao Tome is more interesting though. I feel like the best parallel for them would be Reunion and Mauritius, which much like Sao Tome were uninhabited volcanic islands that became exhibit A plantation economies. Reunion to this day is still French, and benefitted immensely from the collapse of the French empire and became a major cultural center for Frenchmen leaving mainland Africa. I think it's the wealthiest French overseas area today, but don't quote me on that. Either way, I feel like the two Portuguese island colonies would've benefited far more from remaining Portuguese than becoming independent, given they didn't have any of the wars or instability related to their independence like Angola/Mozambique and unlike those two are far more culturally/ethnically Portuguese.
Nah. Portuguese people are too racist for that
Cape Verde had much better education standards than most African countries at the time of the independence. Those 60% didn't compare badly wirh the rest of Africa quite on the contrary. Besides, many capeverdians were skilled members of the colonial administration and this made a huge difference.
Yeah, skilled administrators is a HUGE reason why Asian colonies were far more stable post independence when compared to colonies like many in Africa and why even islands like Haiti/Dominican Republic have such a huge difference in their histories despite having starting points. It's also why even slave heavy agriculturally based plantations sometimes fall apart (like Rhodesia) while others don't (like Brazil and the US): when the administrators leave after independence the country often stagnates or falls apart.
@@arthas640East asians are by far the most advanced developed Asian societies they are the closest to westerners. Everyone else in Asia is poor compared to the quality of life in Japan South Korea and China. Also city states like Singapore (even though it’s in Southeast Asia it’s population is majority Chinese) and Hong Kong are rich because they are majority East Asian.
@@punchfreneticallydot Yeah. It's hard to believe though that many of those countries were just as poor as the rest of asia not long ago. South Korea was basically a third world country in the 50s but by the 80s they were more advanced then virtually all of Africa.
Plot twists were killer. Hope it all turns out well for them