The FT published an in-depth article about how some countries are coping, and addressing, the recent fall of commodity prices, in particular fossil fuels.
Cheaper crude means many developing countries will take longer to catch up with advanced economies
The problem, says Mr Basu [World Bank chief economist], is that too many producing countries are in denial about the shift or the potential remedies — and are afraid of the political consequences. “It will be very difficult. There’s no getting away from it,” he says.