"the commodity boom now"Oil:China and India Creating Own Demand
by: angry_northern_elitist (19/M/Princeton, NJ) 03/17/05 11:26 am
Msg: 518092 of 518092
From bloomberg this AM:
" When personal income ``reaches $4,000 or $5,000 per year in countries like China and India, people start getting into that window of disposable income,'' said Robert Skinner, director of the Oxford Institute for Energy Studies, in Oxford England. ``They buy cars, they consume more electricity. There's a huge middle class emerging in these countries. That's something we have today that we didn't have in the 1970s.''
Internal demand has emerged in developing Asia. That is the juggernaut that is driving the commodity boom now, and its sustaining.
ANE