World Bank sees overheating risk in emerging markets

(Reuters): World Bank chief Robert Zoellick said the global economy was in a “multi-speed” recovery with Europe, the United States and Japan lagging and some emerging markets at risk of overheating and asset price bubbles.

“In most emerging markets, growth has moved beyond the level from before the crisis,” Zoellick told reporters in the Norwegian capital. “If anything, the major challenge (for many emerging countries) is to avoid overheating and asset price bubbles.”