The world is going through an exceptional commodity boom triggered by a global demand shock largely caused by the sudden emergence of China and India as sizeable raw material importers. Prices of numerous commodities tripled between 2003 and 2006, resulting in huge windfalls for producers and a financial squeeze on consumers. A Handbook of Primary Commodities in the Global Economy is a guide to the ins and outs of this increasingly crucial part of the world economy. Assuming nothing more from readers than a basic understanding of economics, Marian Radetzki introduces and explains pertinent issues surrounding international commodity markets such as the global geography of raw materials,
price formation, price trends, the role of commodity exchanges, the threat of depletion, cartel action, state ownership and the new commodity nationalism.
Radetzki is Professor of Economics at Lulea University of Technology, Sweden. He is the author of over 20 books and has undertaken a number of consulting assignments for multinational corporations, governments of developing countries, and international organizations like the World Bank and the UNDP.