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In the past 75 years, almost every economic crisis has been guided by a surge in oil prices
.
But the situation is a bit different now.
The market's concern is that low energy prices are pushing the global economy into a downward trend
.
??????? Although this idea is not intuitive, it is gaining support because more and more global consumers and investors are being hurt by the collapse of commodity prices
.
??????? Taking high-tech product giant Apple as an example, the company blamed the weaker sales in the last quarter on the slowdown in economic growth in some crude oil-rich countries
.
??????? "I never thought I would hope, let alone pray for higher oil prices, but now I will," said Han de, chief economist at ABN Amro Bank NV in Amsterdam.
Jong said
.
"The world is in desperate need for higher oil prices
.
" The problem is that the global economy is now dependent on emerging countries far more than 15 or 25 years ago, when oil prices were at ultra-low levels last time
.
To further complicate the situation, the United States has emerged as the world's largest oil producer in competition with Saudi Arabia and Russia
.
??????? Except for China and India, most emerging countries have abundant crude oil and commodity resources
.
According to the International Monetary Fund (IMF), these economies account for about 40% of global GDP, which is approximately doubled compared to 1990
.
??????? Whether it is Russia, Saudi Arabia, Nigeria or Brazil, economic growth is decelerating to a very slow level, and in many cases, it is shrinking
.
??????? "Many crude oil exporting countries face a very difficult environment," said Gian Maria Milesi-Ferretti, deputy head of the IMF's research department
.
"So now they have to cut spending drastically, and this will affect economic growth
.
"
.
But the situation is a bit different now.
The market's concern is that low energy prices are pushing the global economy into a downward trend
.
??????? Although this idea is not intuitive, it is gaining support because more and more global consumers and investors are being hurt by the collapse of commodity prices
.
??????? Taking high-tech product giant Apple as an example, the company blamed the weaker sales in the last quarter on the slowdown in economic growth in some crude oil-rich countries
.
??????? "I never thought I would hope, let alone pray for higher oil prices, but now I will," said Han de, chief economist at ABN Amro Bank NV in Amsterdam.
Jong said
.
"The world is in desperate need for higher oil prices
.
" The problem is that the global economy is now dependent on emerging countries far more than 15 or 25 years ago, when oil prices were at ultra-low levels last time
.
To further complicate the situation, the United States has emerged as the world's largest oil producer in competition with Saudi Arabia and Russia
.
??????? Except for China and India, most emerging countries have abundant crude oil and commodity resources
.
According to the International Monetary Fund (IMF), these economies account for about 40% of global GDP, which is approximately doubled compared to 1990
.
??????? Whether it is Russia, Saudi Arabia, Nigeria or Brazil, economic growth is decelerating to a very slow level, and in many cases, it is shrinking
.
??????? "Many crude oil exporting countries face a very difficult environment," said Gian Maria Milesi-Ferretti, deputy head of the IMF's research department
.
"So now they have to cut spending drastically, and this will affect economic growth
.
"
