Quote:
Originally Posted by FiveStarWholesale
The main reason behind the current economic situation we now face is also the main reason we in the West have enjoyed cheap prices over the last 15 years..... China.
The Chinese are now becoming richer and desire the kind of lifestyle that we have enjoyed. They now want to drive a big car and have a comfortable lifestyle, which they deserve. The only problem with this is that's 1.1 Billion people who want this type of lifestyle. This increases demand for Oil and Food which increases the price, hence the reason for the current level of Crude and Food.
This isn't temporary either. The Far East arn't going to stop wanting more, they have worked hard for years to get to where they are today, and the consumption levels will grow and China becomes the biggest Super Power in the World.
We need to adjust our lifestyles to fit in with the changes that are taking place, and it's not going to be much fun!
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So true. But add India to that list, as well.
Virtually everywhere, except possibly Africa, the rest of the world is catching up and increasing demand for products across the board. Imagine, meat more than once a week! (If that.)
All of those starving masses are finally catching up and tipping our lifeboat to level the market.
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