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    Home > Organic Chemistry Topics > Organic Chemistry Project > Different from the oil price slump in the past 75 years, it may become the global economy

    Different from the oil price slump in the past 75 years, it may become the global economy

    • Last Update: 2022-03-02
    • Source: Internet
    • Author: User
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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

    .
    "
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