The Bubble in China is not a credit bubble - Marc Faber

Marc Faber in Vienna October 2009 German with subtitles

The bubble in china is not a credit bubble , the credit has not expanded too much , in the last time more , but as a percent of the Gross national Product not especially and the houses prices In comparison with the gross national product and in comparison to the income personal income hey have rather fallen ...but where the bubbles exist in China , the investment bubble are over capacities one has built way too much capacities and therefore is the stimulus program in China actually of no use , because if you have overcapacities in the world you can well print money and suplly money then you build even more capacities if the money goes into the private sector , If a businessman has overcapacities then he would not of course build a new fabric , what he will then do with the excess liquidity is to speculate in the real estate and the stock market...etc...