Asia stock markets slump and oil rises on fears Iran war may drag on
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The conflict in the Middle East has rattled financial markets and global
energy prices have soared.
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Monday, September 19, 2011
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"I see this as the inflection decade. Developed economies still make up 70 percent of the world's GDP but by 2020 they will account for less than 50 percent," he said. "After 2020 the chronic problems of the developed economies will have much less serious implications for the global economy. By 2025 Asia's GDP will be larger than that of the US and EU combined but the global impact of any turmoil will be less."
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