Duration: 30 minutes
Since the late 1990s the prices of many raw materials have risen exponentially. According to Credit Suisse, despite the 2008-9 downturn, in dollar prices, "Oil, iron ore and gold prices are currently around the highest level seen in the past 110 years, and are well above historical averages". Gold, for example, reached a low of $252 in 1999 before shooting up close to the $2000 mark in recent years.
China's insatiable appetite for resources and the impact this has had on the prices for raw material has produced a boom for commodity rich countries such as Brazil, Russia and Africa. We meet the millionaires and billionaires who have benefitted, and pose the question: can they avoid the commodities curse?