28.09.2015 - Commodity nations must deal with the demise of a supercycle
The recent collapse in oil prices is part of a larger drama — the last act in the commodity “supercycle” that began more than a decade ago. That is why the 50 per cent fall in oil prices means not only hard times for the petroleum industry but also portends distress for commodity-exporting nations and the world economy. The commodity boom took off in late 2003 and 2004 with the transformation of China’s role in the world economy. Following its accession to the World Trade Organisation in 2001, China was no longer just the traditional source of cheap goods, tough competition and a lid on inflation...............................................Full Article: Source
Print