Hi Guys...
I'm trying to get a feel for the likely effects of the coming economic collapse on the country where I am living, Ecuador.
The country uses the dollar exclusively and is therefore tied to the doomed US economic policy of fiat printing.
What would the effects on this country be though?
Ecuador's main exports are Oil, Minerals, & Food, and tourism plays a big role in the country's economy.
I'm assuming that the ongoing currency devaluations, would be good for exports here, meaning a possibly positive net effect, especially compared to the US, but the US is a major trading partner, so I guess the overall effect may well be negative...
Anybody got any clues as to what the effects of a global economic collapse would be here?
Is being tied to the dollar likely to be incredibly bad, or fairly neutral?
Muchas gracias....
AgNostic
Potentially Useful figures:
Gross external debt : $15 billion
Public debt 20.2% of GDP
GDP $115 billion
Source: https://en.wikipedia.org/wiki/Economy_of_Ecuador
I'm trying to get a feel for the likely effects of the coming economic collapse on the country where I am living, Ecuador.
The country uses the dollar exclusively and is therefore tied to the doomed US economic policy of fiat printing.
What would the effects on this country be though?
Ecuador's main exports are Oil, Minerals, & Food, and tourism plays a big role in the country's economy.
I'm assuming that the ongoing currency devaluations, would be good for exports here, meaning a possibly positive net effect, especially compared to the US, but the US is a major trading partner, so I guess the overall effect may well be negative...
Anybody got any clues as to what the effects of a global economic collapse would be here?
Is being tied to the dollar likely to be incredibly bad, or fairly neutral?
Muchas gracias....
AgNostic
Potentially Useful figures:
Gross external debt : $15 billion
Public debt 20.2% of GDP
GDP $115 billion
Source: https://en.wikipedia.org/wiki/Economy_of_Ecuador