BizBeat Ep. 277: U.S. blamed for rising oil prices
Global oil prices have risen sharply, with many putting the blame on inflation in the U.S.. One key reason is the U.S. call for decoupling which has damaged global supply chain, while the slow recovery of the economy in the COVID-19 pandemic caused an increase in demand, forming a certain deviation between the two sides. In addition, the U.S. dollar is another important reason behind the spike in international prices of bulk raw materials. The U.S. domestic inflationary pressures are building up due to rising energy prices. In this episode of BizBeat, CGTN's Michelle Van den Bergh explains.