第五，四大外部因素将进一步阻碍美国增长：欧元区危机的恶化、中国的硬着陆、因周期性因素（发达国家增长疲软）和结构性原因（国家资本主义模式抑制了潜在增长率）共同导致的新兴市场经济体整体放缓、以及2013年油价上涨（因谈判和制裁不能促使伊朗放弃核计划所致 ） 。
Fifth, four external forces will further impede US growth: a worsening eurozone crisis; an increasingly hard landing for China; a generalized slowdown of emerging-market economies, owing to cyclical factors (weak advanced-country growth) and structural causes (a state-capitalist model that reduces potential growth); and the risk of higher oil prices in 2013 as negotiations and sanctions fail to convince Iran to abandon its nuclear program.