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the recent contraction of the oil price present a serious economic problem
the oil exporters spend their revenues on imports
a cycle of we pay for your oil , you pay for everything you might want
this is working fine until there is a hiccup , a sharp rise in price see the importers spending much more
it even out eventually as the exporters spend more eventually , the process of adjustment take a few years
but a new balance is established .
if the price of oil crash , it might seems like good news but the importers severely restrict their buying
impacting the importers economy