World energy shortage threatening Asian expansion

Oil’s surging price threatens with slowing Asia’s economic expansion, whose strong demand for crude is precisely one of the main reasons for the ballooning of crude, said International Monetary Fund Managing Director Rodrigo Rato.

“Growth in Asia is really impressive. But there are risks and the main risk at this moment for Asia is the price of oil which this week reached a new record”, said Mr. Rato during a video conference from Washington with Asian journalists.

MercoPress