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The 'self-perpetuating' bear market warning

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We could soon be in a self-perpetuating bear market for some time; that's according to Michael Petley, the Chief Investment Officer of the ECU group. He argues that global equity markets are the next domino to fall after currencies have fallen and bond yields have risen, notably in emerging markets.
He believes that with the US looking to tighten monetary policy and China going in an opposite direction, we're going to see a squeeze and countries such as South Korea, Taiwan and Malaysia could feel that most acutely. Many countries' dollar-denominated debt burden will just add to the pain, he says.