Monday, March 17, 2014
China Could Default says Marc Faber
"I would like your viewers to consider: Why is the China stock market doing so badly if everything is so great? Why is the price of iron ore collapsing and copper prices going down if everything is so great?"
"If you look at the import figures of the trading partners of China, they are all actually showing that exports of China are hardly growing,"
"If someone comes to me and says China has always managed to avoid … any credit problems [because it] has never defaulted, [that] doesn't mean it won't happen in future. The same was said about Japan. The Japanese also thought that way until 1989 and they lost control of it,"
"For the world, economic growth in China is very crucial. But not to worry, because the worse the global economy performs, the more geopolitical tensions we have, the more money printing we will have from the Federal Reserve. As it gives the clowns at the Fed another excuse to postpone the tapering,"
Marc Faber, Editor & Publisher of The Gloom, Boom & Doom Report, explains why he thinks China's economy will grow at a maximum of 4 percent per annum.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.Dr. Doom also trades currencies and commodity futures like Gold and Oil.
Posted by Nicole Bourbaki