Strong credit growth and ballooning asset prices are among the warning signs cited by the International Monetary Fund as it advises Asian leaders to stand ready to deal with overheating in their economies. In a report, the fund pointedly notes the dangers posed by monetary easing among the developed economies, joined most recently by Japan. "Policy makers in the region face a delicate balancing act in the near term: guarding against the potential buildup of financial imbalances while delivering appropriate support for growth," the report says.

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