Reported in the Straits Times on 12 April 2011:
The events in Japan are unlikely to have a major impact on Singapore's economy this year... Likewise, while the events in the Arab world have led to a spike in oil prices recently, the overall impact on world economic growth is likely to be small...
...Moreover, some members of ... OPEC ... have made commitments to increase oil production ... As such ... the impact has been small...
... There are also signs the recovery in the advanced economies in gaining momentum, as indicated by recent improvements in the US labour market.
So is this to say that our world is not affected by monster natural disasters and spreading uprisings against governments, but the decisions of an oil cartel and a few Americans having jobs, or no jobs?????
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