The BBC News Business headline on September 26, 2014 read,
The end of growth in the West?
BBC said,
“What makes investors anxious right now is:
1) a Middle East on the brink of total chaos, thanks to the caliphate-building ambitions of Islamic State,
2) a China awkwardly and belatedly recognising the risk of a crash as it tries to wean itself off its addiction to debt-fuelled investment and growth,
3) a Russia under Putin seemingly intent on provocative territorial expansion,
4) and a eurozone seemingly constitutionally unable to make the structural economic reforms that could end its remorseless economic decline.
If any of these dramas went from hairy to horrendous, the economic implications for the world would be nasty.”
