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Brunei: The Richest Little Independent Country


4 Mar 2016
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Brunei, situated on the northern shore of the island of Borneo in the South China Sea, is one of the smallest yet richest states in the world. With a population of less than 500,000, its socialist society is arguably the closest any nation has gotten to a total welfare state.The tiny nation, covering only 2200 square miles, has been ruled by sultan government for the past 600 years. Despite its high standard of living, the country will likely face serious difficulties when the oil begins to run out, as Brunei embodies the definition of a mono-economy, with oil and natural gas making up a full 99% of its exports.Brunei had a comparatively minor struggle for independence.

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In 1959, a new constitution was written declaring Brunei a self-governing state, while its foreign affairs, security, and defense remained the responsibility of the United Kingdom of England.Brunei gained its independence from the United Kingdom on 1 January 1, 1984 and thereafter its people hold an Annual celebration of Independence of Burnei, every year.
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