Friday, October 30, 2015
China Lying About its Growth Figures
“Growth figures that the government are publishing do not match the reality,” and the most-recent estimate “doesn’t rhyme,” Faber said.
“Evidence shows that it’s nowhere growing at the same pace it was growing say between 2000 and 2007.”
“I have no doubt that some service sectors are growing,” but industrial production isn’t, Faber said. He cited falling exports, imports and railway freight traffic among indicators that are “very negative.” - Via Bloomberg
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