| From Livemint.com: The rise in commodity prices was driven by the confluence of a number of factors. Debt-driven growth in major developed countries drove strong growth (both export and domestic) in emerging markets such as China and India. This, in turn, fuelled demand for resources.
In a virtuous cycle, the growth drove demand in major commodity producers such as Russia, the Gulf, Australia, Canada and South Africa, whose strong economic expansion fuelled further growth globally by way of increased consumption and investment..... Full Article: Source
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