april 13 15 2005 how does china level the commodities playing field david davidson paradigm capital inc mems 14 th annual conference 1 overview has emerged as dominant factor in global supply demand of this unprecedented comes on heels an extended period under investment by resource industry confluence these two forces created a super cycle or bubble s growth will continue albeit not without some bumps gain unfettered access to raw materials they need is big question japan experience 1960 1980 provides useful insights primary focus since 1998 been energy and particular oil blueprint for whole outcome while at time predictable could change direction our come 2 commodity research board crb index nominal source bloomberg 0 50 100 150 200 250 300 350 400 j 70 72 74 76 78 80 82
