With Recession Over, Bubbles Start Forming

摘要

The International Monetary Fund took time out from rescuing Greece in late April to warn the world about asset bubbles-those eruptions of speculative buying that hit economies from time to time and that usually end badly. The biggest bubble in recent times was the sub-rnprime-fueled housing boom in the U.S. Yet many economists think China could still win the bubble sweepstakes with its surge in property prices, huge trading imbalance, and record inflows of investment capital. The IMF also sees "hot money"-flows of foreign capital that move in and out of markets with a few keystrokes-threatening stability in currency rates, stock values, and real estate prices worldwide.