Here is the what little of this I understand, and trust me, if more than half of what follows is correct, I'll be more shocked than anyone. I am no financial expert.
Back in the late 80's and all through the 90's (ahh... them good 'ole Clinton years), the Saudis were in a crude oil production war with the Russians and opened up the taps. Cheap oil flooded the market leading to $20/barrel oil and real economic growth spread through the non-industrial world. China, Brazil, India, SE Asia, Latin America, Eastern Europe. Explosive growth. Trillions and trillions of dollars of new real economic worth.
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