Marc Faber : Well, everything is relative. I think that realistically seen, Asia can grow without the rest of the world. What we need is peace. If there is peace I think there could be growth across Asia. I would say 4%-5% per annum. Maybe some countries like Vietnam can grow at 6% per annum trend line. Maybe India can grow at 5%-6% trend line.
Compared to Europe, I think there will be no growth for the next 10
years. In the US in my view, there will hardly be any growth, and the
standards of living and real incomes will go down.
So a growth rate of 3%, 4%, or 5% in Asian regions would be fantastic.
Near term, my sense is that the Chinese economy is growing at a maximum
of 4% per annum. In most countries I visit, whether it’s Singapore,
Hong Kong, Thailand, Malaysia, Indonesia—we have at the present time
practically no growth. Maybe some contraction. In Singapore, the
manufacturing sector has been contracting. - in Sprott Money
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.