THE year 2016 is already showing signs of another challenging year for the global economy.
Topping the list of concerns must surely be the declining oil price. According to industry watchers, the low price of crude petroleum will be the new normal for the next few years at least. It has dropped below the US$30 per barrel mark, a 12-year low. The earlier hope that the price would stabilise to around US$50 is now more or less shattered.
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