Middle East Economic Survey
VOL. XLVIII
No 36
5-September-2005
High Oil Prices Unlikely To Trigger Global Recession, Says UNCTAD
The chances of an oil price hike plunging the global economy into a recession comparable to the ones of the 1970s and 1980s appear to be small, according to the United Nations Conference on Trade and Development (UNCTAD). A chapter in its Trade And Development Report, 2005 (see full text on page 20) says thatin the major developed countries, oil prices have considerably...
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