Norway, once despised by two rich neighbors for a long time, has been committed to developing its own advantageous industries in order not to be looked down upon by others. Even if the country discovers a large amount of oil and unexpectedly gains a large amount of wealth, it still does not forget your initiative to set up a wealth fund with its oil wealth and buy shares in overseas high-quality assets, which makes its wealth soar. Therefore, the original poor and rural people have now become the richest people in the world.

The first is to develop advantageous industries.

Norway was once a vassal state of Denmark and Sweden in history. Because of economic backwardness, its two neighbors Denmark and Sweden looked down on Norway and once laughed at Norwegians as country people. Therefore, after Norway's independence, Norwegian Prime Minister Kiehudson made a century-long plan based on Norway's rich resources, focusing on the development of fisheries, mining and paper industry, while other industries relied on development. Norway earned its first bucket of gold from this, and its economy improved greatly.

Second, unexpected wealth fell from heaven.

1959, the Netherlands discovered Beihai Oilfield, the largest offshore oil field in the world, and Norway quickly extended its territorial sovereignty to the North Sea, making more than half of the sovereignty of Beihai Oilfield owned by Norway. Foreign oil companies must pay 78% oil income tax if they want to transport oil out of Norway. Subsequently, Norway established its own state-owned oil company, and the income from Beihai Oilfield entered the finance of the Norwegian government. When the West sanctioned Middle Eastern countries, Norway relied on oil. Third, don't forget your initiative.

After Norway discovered a large amount of oil, Norway was not completely dependent on oil. On the contrary, it still adheres to the centennial plan to build Norway's dominant industries, which makes Norway's industries other than oil still flourish, thus avoiding falling into a fiscal deficit like other oil-rich countries.

On the contrary, Norwegians are cautious. When they didn't figure out how to use oil wealth to earn more benefits, they had very strict restrictions on oil exploitation. It was not until the 1990s that Norway decided to set up a sovereign wealth fund that oil exploitation was released.

Fourth, invest in the world?

Norway invests all its sovereign wealth funds in overseas markets, which can not only avoid pushing up the exchange rate of the Norwegian krone, but also enjoy the dividend of the global economic rise. Moreover, the Norwegian government will only use the proceeds this year and resolutely cannot use the principal. Therefore, Norwegian sovereign funds have been earning a lot of foreign exchange for Norwegians for many years.

Verb (abbreviation of verb) renamed the fund to alleviate the concerns of western countries.

Generally speaking, sovereign funds are suspected by western countries to have strong political color, strict examination and strict shareholding control. The Norwegian government renamed the sovereign fund as a pension fund, and the proceeds were used for national pension, which greatly eased the anxiety of western countries about fund investment and enabled Norwegians to quickly control the global stock market value of 1.5%.