One of the often-discussed consequences of the Asian economic growth that China and India embody is a steady rise in the price of natural resources, and most importantly oil. Oil prices are hovering at unprecedented levels, with crude futures briefly touching US$70 in late August, up 65% from the beginning of the year. It has created a huge conundrum for investors who are interested in some of the relatively appealing company valuations in some regional stock markets. Asia's – and China's in particular – rising power consumption has contributed to the rise in oil and raw material prices. But all of the region's countries except for Malaysia are net oil importers.
September 01, 2005