- An alarming credit boom in China could trigger a crisis that would make 2008 look mild in comparison
- China, in particular, has seen credit as a percentage of the economy jump 50% in the last four and a half years
- China has the “fastest credit growth you can image in the whole of Asia.”
- Faber warns that China isn’t the only problem area. Other Asian countries are also seeing big jumps in household debt.
- Via fxstreet : http://www.fxstreet.com/news/fxbeat/article.aspx?storyid=4ca31eb9-7e75-4f56-96f0-193f52776347
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.