Monday, October 14, 2013
China Debt Crisis could unfold within a Year
China’s debt is approaching critical levels and a crisis could unfold within a year ,Rather than focusing on the spat between politicians over the US’s fiscal policies, people should be more concerned about developments in China, said Faber.‘I am leaning towards the view that China is heading for a crisis. The question is whether they can postpone the problems with fiscal or monetary problems for a year or so,’ he said. Maybe in China they can postpone a crisis for a while but when you look at the expansion of debt to GDP of 50% over the last couple of years, clearly that is not going to be sustainable for a long time.’ - in Citywire
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
Posted by Nicole Bourbaki