Emerging Asia impacts commodity price trend
Industrial activity in emerging Asia appears to have become, since 1997, a stronger driver of oil and commodity price movements than business cycle trends in developed economies.
This research paper describes the rise in real energy and non-energy commodity prices in the last five years and assesses the factors driving emerging Asia's demand for commodities and examines the impact of the region on the real prices of oil and base metals in the Bank of Canada Commodity Price Index (BCPI).
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