China’s economic boom and now bubble has caused commodities prices to soar – along with the fortunes of natural resource-rich emerging market nations. Investors have clamored to invest in emerging markets in recent years and their “hot-money” has inadvertently resulted in overheating economies and property bubbles throughout the entire emerging world. Soaring asset prices and rapid credit growth has created an emerging market luxury goods boom that has bolstered the fortunes of European luxury brands – a main reason why Europe’s economic crisis is not far worse than it is now.
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