Things are looking good but tread carefully. That's the warning that came out last week from the International Monetary Fund.

Basically, the IMF has tipped strong economic growth continuing out of Asia but has also warned that risks to world economic growth are increasing with high oil prices and the US economy slowing faster than expected.

So what are the big risks ahead?



Heather Stewart identifies six in The Observer.

The six big risks are the the prospects of fuel prices driving inflation back up again, high and volatile prices in the world's energy markets, the slowdown in the US housing market accelerating and turning into a crash, soaring debt levels of America's spend-now-pay-later economy, political crises coming from non-economic shocks, like a war with Iran or bird flu, and a prospective political backlash over job losses.

Watch this space!