2004 Trade Growth despite higher oil prices
There should be an significant improvement of World Trade by the end of 2004. World Trade is likely to grow by 8.5% and this should be efficient enough to increasse global trade volume. Trading does not have any affect on higher oil prices to any extent. Good growth in traditional output in China, latin America, and Africa is being produced, therfore oil prices would not have any affect for this year. The statistic show that the US supply trade increases in nominal terms by 16% to 7.3 trillion in 2003. Strong demand is behind rising prices for oil and other commodities. Markets appear to be handling this well "said Director Genererl Supuchul Panitchpaka".
9 Comments:
At 3:44 PM, laboz00 said…
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At 6:11 PM, laboz00 said…
I believe that the growth of global trade in the U.S. will not see a significant growth in 2004 if we don't get on board with the European Nations and convert over to the Euro as our medium of currency exchange. This would dramatically improve trade barrier and make it easy to import and export goods.
At 11:28 AM, eagle13 said…
My understanding of the rise in oil prices was that once we went to war with Iraq that caused the increase in prices. There was a concern that some of the oil fields in the middle east would be taken over by terrorist groups or even just set on fire. Again, this is just my understanding. I feel there has always been a strong demand for the oil but once there is a threat then up go the prices.
At 11:28 AM, eagle13 said…
My understanding of the rise in oil prices was that once we went to war with Iraq that caused the increase in prices. There was a concern that some of the oil fields in the middle east would be taken over by terrorist groups or even just set on fire. Again, this is just my understanding. I feel there has always been a strong demand for the oil but once there is a threat then up go the prices.
At 3:34 PM, Mel1293 said…
Increase in World Trade can do nothing but make for a stronger nation. Until we end the war in Iraq, fuel prices will not decline.
At 3:37 PM, erin said…
Wow! I never thought about changing from the dollar to the euro. But I have thought about switching to the Japaneses yen. Because on Friday the dollar has sunk to its lowest level against the yen in 4.5 years.
At 12:01 PM, Stressed said…
It seems as though the war in Iraq was the initial cause of the rise in oil prices. Reading the article may have led to a better understanding to exactly what was being discussed in this situation. The weak dollar could be part of the reason for an increase in prices also.
At 11:13 AM, serderick jennings said…
With the war in Iraq I do not believe that World Trade will increase in 2004. Trading should have some impact on the rise of oil prices maybe not much but some.
At 10:17 PM, ChristyC said…
I do not believe the war is the total cause for gas prices going up. Prices inflate just as the cost of living does. Yes, we do have to be careful of how much we use but that is with any resource, nothing is unlimited. Prices will eventually level off and nobody will think it is a cause of any event, just simply something that happens in the world we live in.
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