Globalisation, not as fun as once portrayed

Global imbalances are growing, cross-border financing needs are increasing
and a smooth-functioning financial system is now essential for this," said
Nouriel Roubini, professor at New York University and a former U.S. Treasury
official.
"People are getting nervous about all sorts of asset classes," he
added. "It's not inconceivable that mishaps on the Tokyo stock market like the
one this week or this event is Iran could lead to the sort of sudden panic
everyone fears."
And there is a palpable sense of unease among top
policy-makers and financiers that one or a series of these seemingly random
events could turn the whole environment ugly