This is also going to put a lot of strain on central bankers: how should central bankers respond via monetary policy to what could be a secular long-term increase in the price of raw materials? Globalisation is a Janus with a double face. You have on the one hand this formidable challenge of volatile oil and commodities prices.
On the other hand you have the formidable disinflationary trend of manufacturing goods, which are produced at lower prices. We have to deal with these simultaneous trends that are very complex and are accelerating changes of relative prices. It is a formidable challenge for all central banks of the world, not only in the advanced economies of course.