Recently, China’s massive growth propelled the price of many raw materials up, oil in particular. Whether the Chinese growth is sustainable is still uncertain, and this should suggest a conservative attitude with regard to the persistency of this trend. The worst scenario for this strategy is the onset of a global recession, which would undermine the prices of raw materials. During a time of recession, the demand for natural resources is expected to remain rather low and sluggish, and the performance of commodities is expected to turn negative.