The US has several structural advantages over Sri Lanka, not the least of which is the capacity to wholly provide its own food supply (and even energy at least for a time). Sri Lanka, like a number of developing countries, depends heavily on food and energy imports.
Food and energy are, along with housing, the most crucial economic goods …
The US has several structural advantages over Sri Lanka, not the least of which is the capacity to wholly provide its own food supply (and even energy at least for a time). Sri Lanka, like a number of developing countries, depends heavily on food and energy imports.
Food and energy are, along with housing, the most crucial economic goods there are, for obvious reasons. A country which cannot provide them internally is always going to be vulnerable to external shocks.
People can withstand not being able to buy new iPhones and Nike running shoes. They cannot withstand not being able to buy rice, beans, meat, and other essentials for survival.
The US has several structural advantages over Sri Lanka, not the least of which is the capacity to wholly provide its own food supply (and even energy at least for a time). Sri Lanka, like a number of developing countries, depends heavily on food and energy imports.
Food and energy are, along with housing, the most crucial economic goods there are, for obvious reasons. A country which cannot provide them internally is always going to be vulnerable to external shocks.
People can withstand not being able to buy new iPhones and Nike running shoes. They cannot withstand not being able to buy rice, beans, meat, and other essentials for survival.
Sri Lanka is experiencing the latter situation.