Economic Affairs

Is the world headed for a commodity supercycle?

There are compelling arguments – both for and against – a multi-decade boom.

Over the last year, there has been a commodity price surge, which has been broad-based. ST PHOTO: LIM YAOHUI
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One of the big debates these days among economists is about whether the world is entering a "commodity supercycle" - a secular rise in commodity prices that will last a decade or more. Many economists think so, but some are doubtful. It's worth exploring both sides of the debate.

Supercycles are different from cyclical upswings that peter out after a year or three. They happen only every few decades, amid transformational events.

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