El-Erian provides three insights on Syria:
1) On a standalone basis, Syria is not that significant, as its oil production of 50,000 barrels a day is a rounding error in the grand scheme of things.
2) What Syria does have is massive network effects. The list of countries impacted by what goes on in Syria is a very long list (Israel, Iran, Iraq, Saudi Arabia, Bahrain, Turkey, etc.).
3) Syria will have a direct impact on the price of oil, which has a direct impact on growth in every country.
