Growing Middle East Turmoil Could Turn Into Global Meltdown, Roubini Warns

Source: Growing Middle East Turmoil Could Turn Into Global Meltdown, Roubini Warns

If Western nations continue to ignore the real problems of the Middle East region, or try to solve them militarily, versus using diplomacy and financial resources to support growth and job creation, the instability in the region will further deepen and will thus impact the global economy for “decades to come”, warns Noriel Roubini, a professor at NYU’s Stern School of Business and Chairman of Roubini Global Economics.

Roubini warns in a recent article for Project Syndicate that among today’s geopolitical risks, none is greater than the long arc of instability that stretches from the Maghreb to the Afghanistan-Pakistan border.

Instability along this arc is growing — as Libya has become a failed state, Egypt has returned to authoritarian rule, and Tunisia is destabilized by terrorist attacks — and now the violence is spreading into Sub-Saharan Africa, Roubini says.

As in Libya, civil wars are raging in Iraq, Syria, Yemen, and Somalia, all of which increasingly look like failed states, he says.