The Organization for Economic Cooperation and Development (OECD) chief, Angel Gurria, sent a strong warning to emerging countries during an interview with CNBC television, last Thursday: “There’s… a danger of asset bubbles in places like Brazil or places like India and we should be careful about that — that is a real threat”, he said. His words came as investors appeared to also start to realize the risk, pulling more than 500 million US dollars out of the Sao Paulo stock market in January. There are fears regarding China´s moves to tighten its economy and also of a speculative asset bubble, which are affecting equity prices and the National currency, the Real. There are also worries about European economies. Investors fear Europe’s woes may extend global slump.

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