--- title: "Meaning & Key Takeaway of: A good part of the state’s assets were…" description: "\"“A good part of the state’s assets were privatized, including electric power distribution, banks, and telecommunications. The country lacks a national ..." image: "https://sms4smile.com/quotes/i/3b5/erik-ching-64792_nobody-knows_a-good-part-of-the-state-s-assets-were-p_1809398.jpg" --- # A good part of the state’s assets were privatized… ![“A good part of the state’s assets were privatized, including electric power distribution, banks, and telecommunications. The country lacks a national currency, having shifted from the colón to the U.S. dollar in 2001. The country’s main export is people, who travel to and remain in the United…” quote by Erik Ching](https://sms4smile.com/quotes/i/3b5/erik-ching-64792_nobody-knows_a-good-part-of-the-state-s-assets-were-p_1809398.jpg) [Download](https://sms4smile.com/quotes/i/3b5/erik-ching-64792_nobody-knows_a-good-part-of-the-state-s-assets-were-p_1809398.jpg) [Open image](https://sms4smile.com/quotes/i/3b5/erik-ching-64792_nobody-knows_a-good-part-of-the-state-s-assets-were-p_1809398.jpg) > ““A good part of the state’s assets were privatized, including electric power distribution, banks, and telecommunications. The country lacks a national currency, having shifted from the colón to the U.S. dollar in 2001. The country’s main export is people, who travel to and remain in the United States and other countries and send back remittances, which constitute one of the largest contributions to the nation’s GDP; drug money-laundering may bring in more than remittances, but nobody knows for sure. A sizable proportion of economically viable enterprises are now owned wholly or partially by multinational corporations, including the important banks, all communications (mobile phones and internet), beer, petroleum derivatives, and airlines. The country imports a lot of what it consumes, especially foodstuffs, energy, and health products, which is reflected in a chronic trade deficit that would be unsustainable were it not for remittances.”” [Erik Ching](https://sms4smile.com/quotes/author/erik-ching/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The nation relies heavily on remittances and foreign-owned firms, while lacking a sovereign currency and facing trade deficits. **In simple terms:** El Salvador depends on money sent home and foreign companies, with no own currency and a trade gap. Key Takeaway Diversify economy and strengthen local industries. Themes economy remittances privatization trade currency Mood concerned analytical optimistic Type economic political analytical When to use this quote - policy planning - investment strategy - government reform - NGO advocacy Key Concepts dependency globalization financial vulnerability migration foreign ownership Questions to Reflect On - How can El Salvador develop sustainable domestic industries? - What risks arise from heavy foreign corporate control? A Different Perspective Reliance on external money can limit sovereign policy options. ★ ★ ★ ★ ★ No ratings yet [Country Lacks](https://sms4smile.com/quotes/about/country-lacks-2101393/) [Main Export](https://sms4smile.com/quotes/about/main-export-2101395/) [Mobile Phone](https://sms4smile.com/quotes/about/mobile-phone/) [Nation Gdp](https://sms4smile.com/quotes/about/nation-gdp-2101397/) [Nobody knows](https://sms4smile.com/quotes/about/nobody-knows/) [Remittances Constitute](https://sms4smile.com/quotes/about/remittances-constitute-2101394/) [Unsustainable Remittances](https://sms4smile.com/quotes/about/unsustainable-remittances-2101396/) ## Related quotes > [As South Korea shows, active participation in international trade does not require free trade. 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If they don't like it, they won't be able to tell you who the stylists are or…](https://sms4smile.com/quotes/louise-wilson/many-students-don-t-really-like-it-fashion-if-they-don-t-like-it-they/) [Louise Wilson](https://sms4smile.com/quotes/author/louise-wilson/) > [Our mobile phones have become the greatest spy on the planet.](https://sms4smile.com/quotes/john-mcafee/our-mobile-phones-have-become-the-greatest-spy-on-the-planet/) [John McAfee](https://sms4smile.com/quotes/author/john-mcafee/) > [“In those years before mobile phones, email and Skype, travelers depended on the rudimentary communications system known as the postcard. Other methods--the long-distance phone…](https://sms4smile.com/quotes/julian-barnes/in-those-years-before-mobile-phones-email-and-skype-travelers/) [Julian Barnes](https://sms4smile.com/quotes/author/julian-barnes/) > [If you're a Firefox user, you get accustomed to your history and the URL bar and finding things. That should be available on your…](https://sms4smile.com/quotes/mitchell-baker/if-you-re-a-firefox-user-you-get-accustomed-to-your-history-and-the/) [Mitchell Baker](https://sms4smile.com/quotes/author/mitchell-baker/) > [“Imagine a time when your mobile phone rang but you didn’t answer it. Why not? Perhaps the phone was buried in a bag, making…](https://sms4smile.com/quotes/nir-eyal/imagine-a-time-when-your-mobile-phone-rang-but-you-didn-t-answer-it/) [Nir Eyal](https://sms4smile.com/quotes/author/nir-eyal/) > [“Some innovations just don’t attract enough economic or social demand: just as supersonic flight and manned space flight stagnated after the 1970s, today (in…](https://sms4smile.com/quotes/martin-j-rees/some-innovations-just-don-t-attract-enough-economic-or-social-demand/) [Martin J. Rees](https://sms4smile.com/quotes/author/martin-j-rees/) ## More by Erik Ching > [“The rank and file members of the guerrillas and their civilian sympathizers paid some of the heaviest prices during the war and a recurrent…](https://sms4smile.com/quotes/erik-ching/the-rank-and-file-members-of-the-guerrillas-and-their-civilian/) [Erik Ching](https://sms4smile.com/quotes/author/erik-ching/) > [“Postwar El Salvador, which another Salvadoran has described as a “casi nación” (an almost nation) sometimes seems like a small geographic space at the…](https://sms4smile.com/quotes/erik-ching/postwar-el-salvador-which-another-salvadoran-has-described-as-a-casi/) [Erik Ching](https://sms4smile.com/quotes/author/erik-ching/) > [“The RN was centered around Suchitoto, and more specifically on the northern slope of the Guazapa volcano.”](https://sms4smile.com/quotes/erik-ching/the-rn-was-centered-around-suchitoto-and-more-specifically-on-the/) [Erik Ching](https://sms4smile.com/quotes/author/erik-ching/) > [“It is not uncommon for people in poor urban neighborhoods and in rural communities to say that when boys become teenagers they face two…](https://sms4smile.com/quotes/erik-ching/it-is-not-uncommon-for-people-in-poor-urban-neighborhoods-and-in/) [Erik Ching](https://sms4smile.com/quotes/author/erik-ching/) [Explore all 5 Erik Ching quotes ](https://sms4smile.com/quotes/author/erik-ching/) ## More Nobody knows quotes > [“life is like a trip nobody knows what will comes next”](https://sms4smile.com/quotes/anonymous/life-is-like-a-trip-nobody-knows-what-will-comes-next/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [It's a bit cliche, but you can't go wrong by writing what you know. 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But however good the comedies are, nobody will accept a good comedy director as a good director.…](https://sms4smile.com/quotes/priyadarshan/it-is-true-that-i-got-recognition-but-however-good-the-comedies-are/) [Priyadarshan](https://sms4smile.com/quotes/author/priyadarshan/) > [“There was a Princess Somebody of Denmark sitting at a table with a number of people around her, and I saw an empty chair…](https://sms4smile.com/quotes/richard-p-feynman/there-was-a-princess-somebody-of-denmark-sitting-at-a-table-with-a/) [Richard P. Feynman](https://sms4smile.com/quotes/author/richard-p-feynman/) > [If a boy loves a girl, everybody knows except the girl. if a girl loves a boy, nobody knows except herself! :P](https://sms4smile.com/quotes/mam/if-a-boy-loves-a-girl-everybody-knows-except-the-girl-if-a-girl-loves/) [MAM](https://sms4smile.com/quotes/author/mam/) > [ \[Barack Obama\] will spend long periods of time explaining to people why he won't use it. 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Not before I free Britta and Finn. -…](https://sms4smile.com/quotes/erin-summerill/nobody-knows-this-castle-better-than-me-they-can-hunt-but-they-will/) [Erin Summerill](https://sms4smile.com/quotes/author/erin-summerill/) [Browse all 821 Nobody knows quotes ](https://sms4smile.com/quotes/about/nobody-knows/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "“A good part of the state’s assets were privatized, including electric power distribution, banks, and telecommunications. The country lacks a national currency, having shifted from the colón to the U.S. dollar in 2001. The country’s main export is people, who travel to and remain in the United States and other countries and send back remittances, which constitute one of the largest contributions to the nation’s GDP; drug money-laundering may bring in more than remittances, but nobody knows for sure. 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