"Stock markets in China, Hong Kong, India, Indonesia, Singapore, South Korea, Taiwan and Thailand are all up by well over 40% this year. Housing prices are rising too. (Russia and Latin America mirror the move.) Thanks to their appreciating currencies, these markets are up even more in dollar terms, doubling in some cases. And the rise is even more startling when one looks at percentage changes since the March lows.

Thanks to the low interest rates engineered by central banks in struggling developed economies, investors have a tempting moment to borrow cheaply and leverage up their holdings of securities and other investments..."

http://blogs.wsj.com/economics/2009/10/2...