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How the finance curse affects tiny countries

The finance curse (obviously) affects different kinds of countries in different ways.  Take the Cayman Islands, for instance. It has has on some measures the world sixth largest banking centre, and wealth that accrues locally could theoretically be divided among just 65,000 people to make everyone rich. That’s very different from a large economy like Britain’s, where the wealth from a somewhat larger City of London could theoretically be divided among a population a thousand or so times larger than that of Cayman.  Continue reading