| Has the so-called commodities super cycle, which has benefited economically backward but resource-rich countries for the better part of two decades and contributed to an astonishing increase in global trade, run its course?
Economists are arguing that, with the prices of such elemental goods as coal, oil, copper and grains having fallen dramatically, the cycle is over. In the past two years, coal prices have fallen by 40.3 percent from their peak, oil is off by 19.1 percent despite Gulf tensions and copper has declined by18.5 percent. Grain price declines have been relatively moderate, with corn and soybean prices showing drops of around 10 percent...............................................Full Article: Source
|