Friday, January 4, 2013

Marc Faber : Rapidly Growing Countries like China are characterized by big Set Backs

Marc Faber on The Rise of China and its impact on The Commodity Market : ...actually I am quite familiar with China and obviously I am deeply impressed by the regime in the last 30 - 40 years it is mind boggling , BUT to believe that an economy never has a recession is of course a complete fallacy , rapidly growing countries are characterized by big set backs , and we had a big set back in China in 1994 , so nobody will tell me there will no business cycles in China , the most successful economy ever was 19th century United States 1800 to 1900 during that period of time they had close to 20 economic and financial crisis and yet the country grew and they had a civil war , so in China many things can happen does not change the fact that may be long term it will be a very prosperous continent , it's not the country , the size of china in terms of population is like Europe and the United States times two , twice as large , so we are dealing with provinces that are as large as France others are as large as Italy , others will be as large as Germany it is a huge continent


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