China's stock market crash was big news. But lost in the headlines was the commodities rout.
Everything from copper to oil, cotton to sugar has been hit. And unlike stock markets, commodities have an impact on everyday lives. From farmers to miners to consumers to governments, lower prices mean less money and fewer jobs.
Gold is often seen as a store of wealth in uncertain times. But right now, gold has tumbled below $1,100 an ounce to a five-year low. So what is behind the fall?
With economic growth around the world slowing and expectations of a rise in US interests by the end of the year, the dollar is strengthening - making gold less attractive. That has led some to predict that gold prices could fall to as low as $750 an ounce. That is a far cry from the $1920 it hit during the financial crisis.
As commodity prices collapse, it now becomes apparent that China's three-decade economic rise has been the catalyst for the rise of many nations such as Australia and Brazil. The failure of those nations to invest and find new sources of growth has also been exposed by China's economic slowdown. So, after hitching a ride on China's boom, can commodity-exporting nations avoid recession?
With gold prices at a five-year low, you would think that some of the world's biggest consumers would be rushing out to buy the yellow metal. But that has not been the case. Al Jazeera's Nidhi Dutt in Delhi explains why.
Mark Connelly, the non-excutive chairman of gold and copper exploration company West African Resources, joins us on Counting the Cost. And Carlos Caicedo, principal Latin American Analyst at IHS joins us to look at the political fallout from the falling price of commodities in Latin America.
Chilean copper: Alternative uses?
Chile is the biggest producer and exporter of copper, which is used in mobile phones, computers and coins.
Unsurprisingly, as demand for the red metal slows, Chile is looking at other uses for copper. Soon it may be on your feet, even in your clothes.
Lucia Newman tells us about innovative ways to make life easier with copper.
Indonesia's motorbike taxis
Motorbike taxis are a popular means of transport in congested cities in Indonesia.
But new companies offering the same service with more efficiency and ease are gaining popularity.
Step Vaessen reports from Jakarta.
Nigeria's illegal trade in frozen chicken
The Nigerian government has launched a new effort to stop illegal imports of frozen chicken. They were banned over a decade ago, but local producers says it has been poorly enforced.
And that is affecting public health. Yvonne Ndege brings this report from Nigeria.
Source: Al Jazeera