My experience of sharing the latest info and news anymore trends

 

Libya and the Jasmine Revolution: Crisis for the World Economy

Although the world may not have been following the events in Tunisia and Egypt with great interest, Libya is certainly open your eyes. The political situation in Libya is one of the first signs of an impending economic crisis of global proportions.


The potential fuel crisis


One may argue that Libya is only 1% of total exports of oil (15 ° largest exporter in the world), but this is enough volume to the third largest oil producer in Africa and a member of OPEC it. Since the spring production of the country, the trickle-down effect felt around the world and has pushed oil prices to record levels. The Libyan effect is particularly important in light of world events. Jasmine Revolution includes countries such as China, Gabon, Libya, Bahrain, Egypt, Algeria, Morocco, Iran and others. Although not all of equal importance in connection with the supply of fuel, Libya on 15-largest exporter of crude oil, while Algeria and Iran on 12 June and if all grades. A simultaneous decrease in the exploration of all these countries can be extremely expensive. Crude oil prices touched new highs soon in conflict with the $ 100 per barrel. More Spikes somewhere between $ 150 and $ 220 is expected if the situation remains volatile for some time.


The impact on national economies


Currencies and commodities business


Emulate other times of crisis rose a noble metal on the back of increased sales. Silver beat the record of 30 years, the highest level of $ 33 an ounce Friday, February 25 touch. On the other hand, gold closed at $ 1,408 per troy ounce. Safe haven currencies and the yen, Swiss franc gained 1.8% each. The insurgency has seriously undermined by the Libyan oil supplies to Europe. Consequently, the euro lost more ground against other major currencies.


Developing countries and developed countries involved are equal


as part of the Libyan crisis, the major U.S. indices like the Dow Jones Industrial Average, NASDAQ and S & P 500 suffered a defeat. Although not directly involved in the export of fuel loaded at this point to the rise in prices on the international market may delay his recovery. Europe is already feeling the heat. This combined with the persistent problems of high sovereign debt and slow economic recovery has become a major concern for politics. The export industries of Japan, a large proportion of the GDP form depends on the continued availability of fuel and oil imports are almost the lifeblood of the Japanese economy. His astronomical amount of public debt (almost 200% of GDP) and weak economic recovery in a place even closer. Korea, the fifth-largest oil importer, relies heavily on exports from the Middle East to fuel its growth story. How the recession is already faced with inflation, and experts believe that no additional pressure to the fuel before inviting stagflation. Other developing countries such as Brazil and India are also not affected by international political events. These countries have been plagued by internal conditions of inflationary pressures and rising fuel prices have put a brake on further growth.

Comments :

0 komentar to “Libya and the Jasmine Revolution: Crisis for the World Economy”

alexa

chat visitor

www.pilasun.com. Powered by Blogger.

Followers

drop

pagerank

Google Pagerank Powered by  MyPagerank.Net

visitor

Subscribe via email

Enter your email address:

Delivered by FeedBurner

FeedCount