The computing industry progresses in two mostly independent cycles: financial and product cycles. There has been a lot of handwringing lately about where we are in the financial cycle. Financial markets get a lot of attention.
The PC enabled entrepreneurs to create word processors, spreadsheets, and many other desktop applications. The internet enabled search engines, e-commerce, e-mail and messaging, social networking, SaaS business applications, and many other services. Smartphones enabled mobile messaging, mobile social networking, and on-demand services like ride sharing. Today, we are in the middle of the mobile era. It is likely that many more mobile innovations are still to come.
Each product era can be divided into two phases: 1) the gestation phase, when the new platform is first introduced but is expensive, incomplete, and/or difficult to use, 2) the growth phase, when a new product comes along that solves those problems, kicking off a period of exponential growth.
Digital Revolution and Repression in Myanmar and Thailand
Activists have also proactively published social media content in multiple languages using the hashtags #WhatsHappeningInMyanmar and #WhatsHappeningInThailand to boost coverage of events on the ground.
How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability
A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.
Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.
The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.
Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.
In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.
While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.
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