dutch disease


The deindustrialization of a nation's economy that occurs when the discovery of a natural resource raises the value of that nation's currency, making manufactured goods less competitive with other nations, increasing imports and decreasing exports. The term originated in Holland after the discovery of North Sea gas.

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The dutch disease was a real threat as we were seeing our currency grow strong which made importing the best choice.

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When great oil reserves were discovered in Alaska, the U.S. economy was afflicted with dutch disease as all eyes turned toward the production of oil.

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The so-called Dutch disease has hammered the idustrial sector of many commodity exporting nations such as Norway, whose currency is well supported by high oil prices but has an uncompetitive manufacturing sector due to the strong Krone.

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