It takes a bloody long time to 'do an argentina' and leave the rich world to become a third world nation - in Argentina's case around half a century:
Argentina and (Canada's) GDP per head as % of Western Europe:
1904: 107% (110%)
1914: 101% (123%)
1924: 113% (111%)
1934: 97% (93%)
1944: 103% (167%)
1954: 90% (139%)
1964: 71% (120%)
1974: 71% (121%)
1984: 53% (120%)
1994: 50% (114%)
2004: 41% (117%)
That leaves plenty of time for corrective measures.
Countries that are dependent on major resources can enter and leave the 'rich' countries much more rapidly - however Alberta would itself be one of these economically volatile nations.
Argentina and (Canada's) GDP per head as % of Western Europe:
1904: 107% (110%)
1914: 101% (123%)
1924: 113% (111%)
1934: 97% (93%)
1944: 103% (167%)
1954: 90% (139%)
1964: 71% (120%)
1974: 71% (121%)
1984: 53% (120%)
1994: 50% (114%)
2004: 41% (117%)
That leaves plenty of time for corrective measures.
Countries that are dependent on major resources can enter and leave the 'rich' countries much more rapidly - however Alberta would itself be one of these economically volatile nations.
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