Industrial commodities would get hit very badly if China went into a recession

Marc Faber : I actually live on airplanes but if I'm not traveling i'm in the north of Thailand but i used to live 30 years in Hong Kong and I have an office in Hong Kong . .... yes. some people will tell you that china will crash. it's possible. other people are very positive about china or complacent. nobody knows precisely. we have a number of problems in china. we also have a misallocation of resources. I'm in Brazil today. all i can tell you is that in emerging economies, whether it is Brazil Russia, middle east, India or china or Thailand or Indonesia, the individual household is not highly leveraged. mortgage debt as a percent of the economy is very low. you don't have the debt overhang we have in the western world. china can have a slowdown and that's why I would rather not own industrial commodities that would get hit very badly if China went into a recession. equally we can have a recession in china for two years and thereafter we'll recover - in CNBC