Direct link to El Erian's article with his 5 reasons. http://bit.ly/1kCYOM5 http://bit.ly/1kCYOM5 If you read his 5 reasons, you'll notice that there's one st

Direct link to El Erian's article with his 5 reasons. http://bit.ly/1kCYOM5 http://bit.ly/1kCYOM5 If you read his 5 reasons, you'll notice that there's one string that ties them all together: interconnected global economy with strong influence by large conglomerates. The more your country is dependent on these multinational companies, more you will be at the mercy of ups and downs of business cycle. Sadly, most industrialized countries are full of them, but there are some exceptions, including Iceland. Iceland, despite almost going under, recovered quickly partly because it unloaded its debt fast, and its small size made the country relatively free of multinational's influence. Japan seems to be everyone's punching bag for being in economic doldrums. But a visit to the country will make you realize that there's a fair balance of multinationals and local companies that evens out the pace of domestic consumption and investment. However, that balance has been breaking for awhile.