129762943178906250_56Skyrocketing oil prices begin to impact the Asian consumer
According to the associated press reported on March 13, soaring oil prices started to squeeze the Asian consumer wallet, while inflation will be accelerated, and in recent years has led the global economic slowdown in the growth of the Asian economy. Sharp rise in crude oil prices has led to the rise in fuel prices in Asia. In Singapore, for example, Exxon Mobil gas station rise, gasoline prices have risen this year 6%, 92nd, up to eachIncrease of 2.15 Singapore (equivalent to us $ 6.48 per gallon).
In the major economies in Asia, only Malaysia is a net exporter of oil. Rising oil prices, Asian policymakers have been thinking hard about the European debt crisis shock wave taken to boost growth in the context of the proliferation of loan interest rates and other incentives. If oil prices rise further
diablo 3 power leveling,This could force Asia's central banks to raise interest rates to contain inflation at the expense of economic growth.
Exports to Europe has been a mainstay of Asian economies, but in recent years, China and Indonesia, such as purchasing power of the country's growing middle class and a rise in consumer demand in Asia's growing importance in the global economy. Singapore 27-year old real estate agent dimoxi��Chen(Timothy Chen) says, "I watch it drives customer every day most of the time on my way home". To control fuel expenses increase last week, he switched to the less expensive low-octane gasoline. "It's very depressing, increased pay petrol money, earn money but did not increase. "In some areas or countries in Asia (Singapore and Hong Kong
diablo 3 power leveling, China) and are dependent on the originalOil imports, particularly vulnerable to the impact of higher energy prices. Rising energy prices will cause a rise in production and transport costs, resulting in most of the rise in commodity prices.
Due to investor optimism that the United States economy to improve will boost crude demand, coupled with fears of Iran nuclear program tensions caused by the warming of the global oil supply disruptions, crude oil prices have risen sharply in the near future. Standard CharteredBank Chief Economist relaer��liwengsi (Gerard Lyons), "said higher oil prices seem more like a tax on global growth has eroded purchasing power in Europe and, while Asia's economic slowdown hit many Asian economies", "must not underestimate the impact of oil prices on the global economy. Higher oil prices are usually sustained global economic growthThe greatest threat. " To date, due to strong Asian trade and government surplus, rising global oil prices does not have a significant impact on inflation and economic growth in the region.
The International Monetary Fund forecasts, 6.7% Asian economic growth this year, exceeding last year's 6.3%. However, economic growth does not let people easily accept the higher fuel costs, in particular theRegions of poor countries.
Viet Nam in Hanoi, the capital said motorcycle taxi driver Nguyen Van Hung, 42, since earlier this month, the Government raised gasoline prices to record highs after 10%, he had to charge per kilometre 1000 Viet Nam Dong (about 5 cents). Hung revenues of about US $ 5 a day, to feed aFour-port.
He said, "I told passengers the price, they went away", "they say, they can't afford to pay that much." While the latest data showed inflation remains under control, but may still be hit due to higher oil prices in the near future, because of rising energy costs and the tightening of monetary policy on the economic effects will last for several months or years, jiefurui Investment Bank in Hong KongStrategist xiaoen��Dabi (Sean Darby) said.
Sir Clifford Darby ' s saying, "oil Shockwave after a long time to come, is affected by the economic impact". Relative to the scale of their economies, Korea, and Taiwan and Thailand is Asia's largest crude oil importer (or region), because of trade and government deficits and inflation in January amounted to 6.6%, IndiaIn response to the rise in energy costs is weak, analysts said.
Another concern is that higher oil prices will force fuel subsidy costs for the consumer countries (such as India, and Indonesia and Thailand) increased spending on crude oil, and other help to the economic growth of public expenditure. Kai investment and international macro-economic consulting firm in Singapore AsiaDannier��Mading (Daniel Martin) said, "from Asia's performance in recent years, high prices are not obstacles to sustained and rapid economic growth in the region." However, if the price of oil because Iran nuclear project in a violent conflicts lead to a disruption of oil supply and rising
tera power leveling, while global economic growth slows, and stabilise oil prices in Europe and the worldCompared to Jackie and fast growth in oil demand gradually rose, former economic effects are even worse in Asia. (End)
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