This chapter discusses the economic challenges faced by Eritrea due to the absence of a stable government and excessive government control over the economy, leading to the suppression of private industries and misalignment in supply and demand.
We've talked about some incredibly poor countries on this channel before, but perhaps nothing as bad as the small East African country of Eritrea. This country is a complete military dictatorship, and has been called the North Korea of Africa. There are no free markets. No trading partners. Their debt to GDP ratio runs very high for one reason only: their country is in a critical region of the world for international shipping. But life really couldn't be much worse in Eritrea.
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