Oil shock after hit on Saudi facility is a sucker punch to a reeling world economy
Emerging economies nursing current account and fiscal deficits such as India and SA run the risk of large capital outflows and weaker currencies
16 September 2019 - 10:22
Hong Kong — The record oil price surge after a strike on a Saudi Arabian oil facility couldn’t have come at a worse time for a world economy already in the grip of a deepening downturn.
While the severity will depend on how long the price spike endures, the development will further erode business and consumer confidence that are already fragile amid the US-China trade dispute and slowing global demand...
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