Unformatted text preview: will still be a slow process – and unless commodity prices drop sharply, oil producers’ surpluses look here to stay. He acknowledges that other parts of the emerging world – such as Brazil, Mexico and Poland – are likely to boost global demand in coming years. “But while this could provide a degree of support for the developed world, it is unlikely to have much impact if the surpluses of Asia and the oil producers remain large,” he says. “And there are risks, most notably of overheated growth and asset price bubbles, in emerging market deficit economies. “Meanwhile, G7 policy-makers will continue to ask whether their emerging world counterparts should not be doing more to expand global demand.”...
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- Spring '11
- Developed country, oil producers, Mark Williams