The turmoil in the Middle East has prompted a chorus of warnings that the world economy could be dragged back into recession if the price of oil continues to climb. We were already expecting global growth to be slower this year than in 2010, and slower still in 2012, as policy stimulus fades and underlying structural problems come to the fore again. But the oil price is unlikely to be pivotal.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.