Marc Faber China had an over investment Bubble

Marc Faber cautious about China's official growth figures

the Chinese markets are up 70% this year , is the Chinese stimulus working ?
Marc Faber answers by saying the Chinese government is one of the few governments in the world that knows the GDP numbers three years in advance , I will take the (official) 7.8% growth rate with a grain of salt " says Dr Doom "I think probably they are some sectors in china that are growing , but other sectors are not growing much or are still in recession like the export sector , I think growth is more likely 2% to 3% than 8% " "In the US we have a stimulus package that is not very healthy because it moves the economy to governments hands and whatever the government does it is not going to be as efficiently as the private sector , In China we also had a bubble it is an over investment bubble with over capacities and so forth and now we do not solve the problem we have created another bubble the bank lending , and the banks they lend the money out , it is impossible that they lend it out all wisely , some will go soar and so forth so I'll be a bit careful about China" concludes Marc Faber editor and publisher of the Gloom Boom and Doom report