The Middle East meltdown and its global economic risk
Although the oil price has fallen as instability has risen across the Middle East it doesn’t mean the region is less strategically important. The west ignores the region at its peril
So, if the west ignores the Middle East or addresses the region’s problems only through military means (the US has spent $2tn in its Afghan and Iraqi wars, only to create more instability), rather than relying on diplomacy and financial resources to support growth and job creation, the region’s instability will only worsen. Such a choice would haunt the US and Europe – and thus the global economy – for decades to come.
