The paper “ How Natural Resources Ownership Has Changed in the International Financial System in the 21st Century” is an informative example of the case study on macro & microeconomics. This paper takes into account the resource self-rule cyclical nature, and as the report thesis statement implies, the focus is if host-governments concedes control or sovereign rights over their country's natural resources to international oil companies. The study emphasis on countries that at all time dominates the worldwide oil reserves plus has lately had too much of conflict with regard to its fair share.
This subject matters for the reason that it establishes the capability as well as the enthusiasm of a country to change its natural resources into oil supplies for the international oil market without losing its sovereign rights. The issue as well matters since it has an effect on the country’ s ability to change its natural resources into development signifying the generation of employment as well as the mitigation of poverty for the country’ s citizens. IntroductionBasically, natural resources irregular distribution as well as endowment across the globe along with their limited temperament has enthused firm competition to get right of entry to such resources, since they are of vital significance to the continued existence as well as the growth of the world financial system. According to Van Laer (2010, p. 66), the fact that most of such resources are situated in developing economies has generated chances for unjust and discriminatory victimization of the host country. For this reason, in the past four decades natural resources permanent sovereignty has been endorsed plus has developed owing to the claim of upcoming economies in opposition to inequitable victimization in the past years by developed countries by means of their cosmopolitans (Antolí n & Cendrero, 2013, p. 709). Earlier, a nationalistic policy was implemented wherein the countries acted as both a supervisory body as well as an active partaker in the trade of developing such natural resources.
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