TAG: Asia
Without a doubt Britain’s decision to abandon the European project will be remembered globally as a wake-up call for political elites around the world. It seems the population chose to go against immediate economic interest and accept another financial turmoil in order to address deeply seated social and identity issues.
An economic boom driven by a $19bn natural gas project was followed by a sharp slowdown as global energy prices fell, putting pressure on the government to spread more equitable development in this resource-rich country.
The growing recognition that economic liberalisation offers the best path forward for the country has been reflected in a number of recent reforms, including a spate of significant stimulus packages that were announced late in 2015 and continued into 2016.