TY  - SER
AU  - Plender, John
TI  - BUBBLES WILL BURST
KW  - MERCADO FINANCIERO INTERNACIONAL PREDICCIONES ECONOMICAS COMENTARIOS EDITORIALES JAPON BRASIL EUROPA
KW  - MERCADO FINANCIERO INTERNACIONAL
KW  - 11
KW  - 3ext124
KW  - BR
KW  - XE
KW  - JP
N2  - Even the more optimistic pundits concede that the list of threats to the global economy is unusually long and impressive. Japan, the world's second-largest economy, is in such dire straits that it will subtract from global growth this year, while sending financial shock waves across the exchanges. Brazil, the last line of defence in the emerging market crisis, is struggling. Continental Europe, where the euro-zone countries are running a  US100bn (£59.5bn) current account surplus, cuts interest rates at a snail's pace and shares too little of the burden of the Asian crisis relative to the US. The risk of currency turmoil and trade friction looms large
ER  -