Vipul Maisske, International Affairs Enthusiast
The most recent country which went rapidly from being rich (comparatively) to poor is VENEZUELA.
How rich was Venezuela?
A huge oil well was discovered in 1920s and since then Venezuela has been an exporter of oil.
It has oil reserves more than Saudi Arabia! (Top ten countries with world’s largest oil reserves, from Venezuela to Iraq)
The value of its national currency “Bolivar” was really high.

最近一个迅速从富裕变穷的国家是委内瑞拉。
委内瑞拉以前有多富?
1920年代发现了大油田,从那以后,委内瑞拉就成了石油出口国。
它的石油储量超过了沙特阿拉伯!
委内瑞拉货币“玻利瓦尔”的价值非常高。



GDP “contracting” at the rate of 19.62%

GDP“萎缩”19.62%


Here’s one Reuters’ Article stating the same: Venezuelans facing ''unprecedented challenges,'' many need aid - internal U.N. report
1 USD = 2,48,566 VEF (Present Day: 20.05.2020)
The country was declared free of Malaria in 1961 but now the malaria cases in Venezuela are ~3 Lakhs

路透社一篇文章的说法也一样:委内瑞拉面临前所未有的挑战,许多人需要援助
1美元=248566玻利瓦尔(2020年5月20日)
1961年,委内瑞拉宣布消除疟疾,然而,如今委内瑞拉的疟疾病例约有30万。


Taking advantage of this, Venezuela prospered rapidly and earned very high revenue. Now, Hugo’s Policies started to focus on providing people with employment (The policies were socialistic).
So, the main company (the state owned PDVSA) started to employ a huge number of people. Even if it was not required, people were still hired (To curb unemployment).
Now, comes the twist, the oil prices plunged rapidly.

就这样,委内瑞拉迅速繁荣起来,赚了非常多的钱。然后,查韦斯的政策开始倾向于为人们提供就业(社会主义政策)。
所以,主要的公司(委内瑞拉国家石油公司)开始雇佣大量人员。即使不必要,还是雇了(为了防止失业)。
后来,转折出现了,油价迅速下跌。