Most companies die from indigestion rather than starvation i.e. companies suffer from doing too many things at the same time rather than doing too few things very well.

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But Asia has to diversify, because too many countries make the same things and China makes low value-added products cheaper.

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The UK is using this crisis as momentum to talk about a new relationship with the EU, to get some powers repatriated - I agree with that, because Brussels is trying do too many things at the same time.

BBC: Viewpoints: How experts see UK role in EU

Now Germany, too, is exhibiting some of the same signs of complacency, a belief that things aren't as bad as the doom-mongers predict.

ECONOMIST: Striving for co-operation | The

But we did a good job keeping things safe - and not too slow - at our airports and we believe that with your cooperation the same will be true in the coming days and weeks.

BBC: NEWS | Americas | US terror alert: Full text