" Among the seven regions of the global economy that we consider, the economies of North America (excluding Mexico) have the least exposure to final spending in the rest of the world. In contrast, many economies in the Middle East and Africa (MENA) region, which have a high degree of dependence on the production and export of energy commodities, have the most exposure to final spending in foreign economies. Consequently, these economies have the most to lose from continued sluggish growth in global economic activity and trade."
From:
WellsFargo
