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Stagflation

High oil prices threatens a prolonged period of lethal global stagflation: “will Chinese demand drive oil prices to $50 or $100 or $1,000?”

The escalation of oil prices, which this week reached a previously unthinkable $130 a barrel (with predictions of $150 and $200 soon to come), threatens to do far more damage to the world economy than the credit crunch.

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