On investments in emerging markets.

"Investment flowing into emerging markets touched a fresh high last year, according to a new report from the World Bank, but concerns persist about the stability of banks in certain developing countries. A series of mergers and acquisitions in 2006 helped push foreign direct investment in developing countries to a record $325 billion--or roughly a quarter of the total worldwide, the report said. Foreigners bought $94 billion more of emerging-market stocks than they sold, up from $67 billion in 2005."

"Investors' enthusiasm wasn't restricted to stocks and direct investment: Companies from developing countries also raised $333 billion through foreign-currency bonds and syndicated loans, up from $88 billion four years ago."

"The World Bank notes that 2006 probably represented a peak in the global economic cycle, and that governments should gird themselves for a somewhat less benign environment ahead. It expects growth in both developed and developing countries to slow in 2007. The economies of emerging markets should expand by 6.7 percent this year, down from 7.3 percent in 2006, the report said."

--Wall Street Journal, May 29