Marc Faber on 21st Century China

Marc Faber : "I think this is a huge risk and it is a much larger risk for the global economy than it is for the US , because the US is no more a large commodity buyer China is , and If Chinese growth really slows down or if they have a crash as some analyst say they may have , then it obviously will impact the economies of countries like Australia the middle east Brazil Canada and so forth and of course also the property market of Vancouver Hong Kong Singapore Sydney and then it will back fire in the sense that these economies that produce commodities are falling commodity prices they'll buy less goods from China , so it could trigger a vicious circle on the downside and I would say there is a fairly good chance that this could happen,This would really be something that the world central bankers wouldn't be able to help with printing money , they may be able to print money but it wouldn't really help the real economy it may help the financial economy to support equity prices " "I do not think it will be a trade war , I believe and that's why I am ultra bearish about everything , that being ultra bearish about everything I think you better off in equities than in bond or in cash probably the best will be in precious metals , but basically I see that ten years ago a huge shift in the balance of the economic power begun from the western world notable from the US and western Europe to Asia and emerging economies , we have today in the goods market I am not talking about services because services are very difficult to measure but in the goods market the emerging economies are much much larger than western Europe and the US even combined , so this shift in the balance of economic power to emerging economies is accompanied by a shift in political and military power and that the west will not just set there and do nothing , I mean the Libyan expedition is the first shot , I think the western world want to control China by controlling the oil supplies from the middle east and then it will come to war and in war times the one thing you do not want to is in the US government debt bonds equities will do OK and precious metals and some commodities will do very well but I would prepare for the worst but when you think it is true in the worse scenario you do not want to be in Cash US Dollars and in the US Government bonds