Although it cannot be denied that growth among the economies of emerging market nations has been strong and is very real, with GDP growth rates of as much as 11% a year, compared to 3% in the U.S., many are now warning of a flood of speculative money in search of returns, Forbes reports.

So far this year, foreign investors have poured $213 billion into emerging markets, whose markets have grown an average of 39.5% a year since 2002, according to the Institute of International Finance. Five years ago, there was only one emerging market mutual fund, but today there are 16, according to Morningstar. Last year, emerging market mutual funds had $11 billion in assets under management, and this year, that has grown 29% to $14.2 billion, according to AMG Data Services.

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