Whatever happened to the super-cycle?

The much-hyped “super-cycle” of rising commodity prices, driven by rapid growth in China since the early 2000s, probably ended some years ago. Future cycles are likely to be smaller in magnitude, and shorter in length. Nonetheless, commodities are still too important to the global economy and financial markets to ignore. The prices of many commodities have also fallen to attractive levels – particularly compared to other assets such as equities and bonds.