Things abroad hardly look rosy, but they look distinctly better than they did a few months ago. Conditions in international financial markets have continued to improve. There have been occasional reversals, but each time the improving trend has resumed.
Emerging markets in general, and China in particular, which is forecast by the IMF to grow by 9,6 per cent this year, have been growing strongly, and there are now fears of evolving asset price bubbles in China.