Wednesday, July 18, 2012
Marc Faber Warns The Slowdown in China is Larger than Reported
Marc Faber : well, I think first of all investors must realize that the impact of a slowdown in the Chinese economy, which in my view is much larger than what the government has been reporting, the government says GDP has been growing at 7.8%, in my view it's much lower because we have very reliable statistics. say, export figures from Taiwan. export figures from south Korea. where the largest export destination is china. they're down year on year. electricity consumption in china is hardly growing. and so i think the economy in china is rather weak. but of course the markets have rallied because they think that because of weak economic growth in china they will stimulate, they will print money like in the united states and Europe and so forth and so on and that it will boost prices for a while.
Dr. Marc Faber Tomorrow's Gold
Dr Marc Faber was born in Zurich, Switzerland. He went to school in Geneva and Zurich and finished high school with the Matura. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Between 1970 and 1978, Dr Faber worked for White Weld & Company Limited in New York, Zurich and Hong Kong. Since 1973, he has lived in Hong Kong. From 1978 to February 1990, he was the Managing Director of Drexel Burnham Lambert (HK) Ltd. In June 1990, he set up his own business, which acts as an investment advisor and fund manager.
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