Marc Faber : we had a Credit driven Boom in China

Marc Faber :Well basically I look at China this way , between 2000 and 2007 the Chinese economy grew and credit expanded as about the same rate as the GDP , slightly higher but not excessively , but after the crisis of 2008 we had essentially a credit driven Boom in China , and whenever you have excessive credit growth and artificially low interest rates , because obviously inflation in China is much higher than what the government is publishing , you have symptoms of bubbles developing clearly in the real estate market there were some over investments and so forth , and therefor I think the slowdown in China is coming or possibly some sectors of the economy will crash , it dos not mean that China is unattractive from a long term perspective , in America from 1800 to 2000 we had 19 economic and financial crisis in the first hundred years in the 19th century we had a civil war we had world War One we had the great depression World War Two and so forth and so on but the country continued to grow , this can happen in China ......- in Reuters