Diversification from oil could remain a pipe dream
This is not just because of geography but also because they are in some respects so similar. Their economies are, above all, just too reliant on exports of primary goods – not to each other but to Asia, Europe and the US.
Both regions have, nevertheless, played a vital and linked role in the globalization of finance, as well as goods, over the last five decades. Over 50 years, Euromoney has followed this every step of the way.
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