Sri Lanka, Jan. 12 -- The latest escalation of tensions in the Middle East will have implications not only for millions living in the region but also for the wider world. Some consequences will be readily obvious others not so.
Already oil prices have spiked against the background of a wobbly global economy.
The world economy will suffer serious damage if tensions escalate further, former Permanent Representative of Sri Lanka to the United Nations, Dr. Palitha Kohona said.
He said growth has been slowing for some time in the major economies, including our region and the slowdown will be further aggravated. Tit-for-tat sanctions by the US and China have effectively been the prime cause of the spreading global economic wobbles, with China,...