How did Brunei become a small developing country richer than Dubai near the Zengmu Shoal?

Brunei Darussalam, also known as the Islamic Monarchy of Brunei, or Brunei for short, is a monarchy. It is located in southeastern Asia, northwest of Kalimantan Island, bordering the South China Sea to the north, my country's Zengmu Shoal to the west, and bordered by Malaysia on three sides. It has a coastline of 161 kilometers, 33 islands, an area of ??less than 5,700 square kilometers, and a population of more than 400,000. The overall size is similar to that of a medium-sized county in my country.

First, it is the country with the least debt in the world. Almost all countries in the world today are living with debt. It's just a question of how much. Poor countries borrow, rich and developed countries also borrow. Therefore, borrowing money to live on has become a norm for the survival and development of the country. For example, the United States, a superpower, has a foreign debt more than double its GDP and a debt of 22 trillion U.S. dollars. This still does not affect its status as a superpower. There is also Japan, which owes the most foreign debt in the world. Its foreign debt is 2.6 times its GDP. It almost relies on debt to survive, but it is still very comfortable.

However, Brunei ranks last among more than 200 countries in the world in terms of external debt. Its total debt accounts for only 2.8% of GDP, and the total debt is less than US$300 million. It is the country with the least debt in the world, and most of its debt is borrowed domestically.

The second is the country with the richest oil and gas resources. Brunei has a large amount of oil and natural gas resources. The oil reserves are at least 1.4 billion barrels and the natural gas is 390 billion cubic meters. These resources are enough for Brunei to enjoy for several lifetimes. Although Brunei is a small country, it is one of the richest countries in Southeast Asia.

The third is a country that is richer than Dubai. As mentioned earlier, Brunei is the country with the least debt in the world, so why does it have the least debt? It’s because Brunei is not short of money. Brunei’s per capita GDP is as high as US$52,000, while Dubai’s per capita GDP is only US$46,000. Therefore, Brunei ranks among the richest countries in the world. Every household has mansions, villas, and luxury cars. It can be said that Brunei is extremely rich, and it is a typical example of low-key luxury and making a fortune quietly.

The fourth is a country where the royal family is richer than the Saudi royal family. When it comes to wealthy people, the first thing many people think of is the Saudi royal family in Middle Eastern Arab countries. They spend money like water and money, and they are the representatives of wealthy people. In fact, Brunei’s royal family is no less powerful than the Saudi royal family!

The Brunei royal family controls 80% of the country's economy, with royal assets as high as 40 billion U.S. dollars. It was once the world's richest man according to the American "Fortune" magazine in 1997. And he has purchased many properties overseas, including a ranch in Australia that is three times larger than Brunei. It has the largest "practical palace" in the world, the Nuloyman Palace. It is built with gold and can be described as a dazzling pearl. The King of Brunei owns more than 7,000 luxury cars when new.

Prince Abdul Malik’s wedding is regarded as “the most luxurious wedding in the Muslim world” so far. While other brides hold flowers in their hands, the prince's bride holds a large string of gems, not to mention luxurious jewelry shoes, solid gold anklets, and gold-encrusted thrones. So it’s more than the wealthy Saudi royal family!

Fifth is one of the countries with the best welfare in the world. Buying a car, buying a house, doing business and personal income are not taxed in Brunei. Medical care is free. Diseases that cannot be cured at home can be treated abroad. All the patient's expenses, including round-trip travel expenses for accompanying family members, and food and accommodation expenses, will be reimbursed by the state. Education is free from kindergarten to university, and even studying abroad is paid for by the state, with food, accommodation and round-trip air tickets included. A poor family has at least two cars, because there is no tax on buying a car, a liter of oil is cheaper than a bottle of mineral water, and there is no tax on roads. Elderly people over 60 years old have an endless pension every month, and they only charge a symbolic one yuan for medical treatment. The government encourages you to build your own house. There is no charge for land, only a penny registration fee. You can also borrow money from the government to build a house and pay it off when you retire. The government also provides a large number of affordable housing for low-income people to live in. They only pay a small amount of rent every month. After 30 years, the house belongs to the individual. With such good benefits, it is impossible to immigrate because Brunei does not accept immigrants.

Sixth is the country with the worst public transportation and commodity trade. Because every household in Brunei has a car, and not just one, the government no longer builds public transportation. This is very different from Singapore, which is also rich. Singapore's public transportation is quite complete. I don’t know what the Brunei government thinks about this issue. Brunei is a city-state after all, and it should strive to build the image of an international metropolis and improve public transportation. This brings a lot of inconvenience to foreigners because they are unfamiliar with the place. This has also greatly damaged the international friendliness of the city of Brunei and restricted its development. The Brunei government wants to build Brunei into an international financial city, but there is no public transportation. How can it be built?

The domestic commodity trade is equally bad. The largest shopping mall in the capital Bandar Seri Begawan is just an old five-story building with a low store occupancy rate and a large number of vacant shops. This is related to the fact that Bruneians go to nearby Sabah for shopping, which also causes a large amount of wealth to flow out.

Seven is a country with many taboos. Maybe it’s because Brunei is a religious country with a majority of Muslims and it’s a small place, so there are a lot of taboos. In public places, eating while walking is considered impolite.

If people living in Brunei want to drink, they have to drive to neighboring Malaysia to buy alcohol, or come back after drinking enough, because Brunei has no bars and does not sell alcohol. There is no gambling in Brunei, heterosexual massage is prohibited, larger parties must be reported to the king, there is no karaoke, and there is no nightlife. It seems that their biggest entertainment is watching movies and sitting together as a family drinking tea and chatting.

Although Brunei has many taboos, it still inherits the Muslim custom of polygamy. In Brunei, a man can marry four wives, but the eldest wife must agree.

Eight is a developing country. People may ask, why is Brunei classified as a "developing country" by the United Nations because it is so rich and its citizens have such good welfare? In addition to the fact that the Brunei royal family controls 80% of the country's economy, this is probably mainly due to the fact that it has not reached the standards of developed countries.

It is true that Brunei is rich, but its productivity is underdeveloped and its industrial structure is unreasonable and unadvanced. Especially in the national economic structure, the proportion of the tertiary industry is less than 60%. In this regard, Brunei obviously fails to meet the standards. Its revenue mainly comes from oil and natural gas resources. Brunei's economic operating mechanism is also immature, and its market mechanism and market system are imperfect. Without oil and natural gas, their lives would be difficult. In addition, Brunei's economy has a low degree of internationalization, and its foreign trade exports are too simple and of low quality.

In addition to the above, Brunei's prosperity is not reflected in infrastructure construction and basic livelihood facilities. For example, Brunei's capital Bandar Seri Begawan still uses very unstable 3G. Even Cambodia and Myanmar have popularized 4G networks. Then there is no public transportation, which makes people feel very inconvenient.

This is Brunei, a country that is "floating on oil", but a country that is rich does not necessarily mean it is a developed country.