Leaders See Threat to Growth From Commodity Price Swings

The leaders of Brazil, Russia, India, China and South Africa said excessively volatile commodity prices pose a threat to the global economy and called for greater regulation of derivatives markets.

Volatility “poses new risks for the ongoing recovery of the world economy,” the leaders said, according to a communique from their summit in the Chinese resort of Sanya. The BRICS, as the five are known, also called for greater vigilance over the impact of the flow of capital from developed economies into emerging markets and agreed on a plan to make more loans in local currencies.