Marc Faber : China has a gigantic bubble and it will burst

Marc Faber  : ....I think that if we define a bubble by artificially low interest rates and excessive credit expansion then China has a gigantic bubble , but in the contest of economic development the bubble will burst for sure , I do not know tomorrow or in three weeks or in three months and when it burst they will also be also world champions in money printing they will be exactly what Mr Bernanke has done and so I would rather bet that eventually the RMB could weaken against the US Dollar that's why I am not so bearish about the US Dollar right now , I think among the sick currencies it may be OK for the time being ...when the Chinese bubble burst they'll have a recession but as you know the US economic history 1800 to today how many recessions you had ? the civil war world war one depression world war two and the country still kept on drawing and the same could happen in China ...but I mean I go along with Jim (Chanos?) and I think it's a gigantic bubble and it will burst ...and this will have a huge impact on the rest of Asia on Australia Canada Brazil , the resource producers ...in Bloomberg TV