A handbook of primary commodities in the global economy

Table of Contents 1. The Historical Framework 2. The Geography of Commodity Production and Trade 3. Comparative Advantage and the Trade Policy Distortions 4. Fossil Fuels 5. Price Formation and Price Trends in Commodities 6. Commodity Booms 7. The Commodity Exchanges, Commodity Investments and Speculation 8. Sustainability and the Threats of Resource Depletion 9. Fears of and Measures to Assure Supply Security 10. Producer Cartels in International Commodity Markets 11. Public Ownership in Primary Commodity Production 12. The Monoeconomies: Issues Raised by Heavy Dependence on Commodity Production and Exports References Index.

The dramatic price falls of 2014-2015 marked the end of the most powerful and enduring commodity boom since the Second World War. Now in its third edition, this book acts as a guide to the ins and outs of the primary commodity universe. Updates to this edition reflect on the consequences of both China's economic slowdown as its industrialization enters a new, less commodity demanding phase, and changes in the USA's trade policy under the Trump administration. Additionally, this edition takes into account recent developments in world oil markets and examines the effects of increased climate concerns. The authors introduce and explain 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, emerging commodity nationalism and more. Accessible to anyone with a basic understanding of economics; the authors use standard economic theory and logic while avoiding technical jargon and algebra Offers a comprehensive, up-to-date exposé of the commodity world in international markets Appeals to those who want to understand the ins and out of primary commodity markets