“An economy is very complex, and you have some sectors of an economy expanding and some sectors contracting [...] My sense is that at very best, the economy is growing at around 4% per annum, but it could be lower,”
"There are numerous indicators and some of them are actually reliable, if you look at say imports and exports, from Taiwan and South Korea into China. You get the sense that the economy is actually quite weak," Faber said.
"We have this colossal debt bubble in China and in my opinion this will have to be deflated through either huge losses in the banking sector or losses in the bond market for investors," he said.
Marc Faber, editor and publisher of the Gloom, Boom & Doom report,
says China's economy is much, much worse than official statistics
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.