Tracking Dr. Marc Faber of The Gloom Boom and Doom report , Marc Faber nicknamed Doctor Doom , a world class investor and a regular speaker at various investment seminars, Dr Marc Faber is well known for his "contrarian" investment approach.
While Faber generally seems to be a
long-term bull on China, he had some disquieting things to say about the
extent of malinvestment in China due to the recent round of government
stimulus and infrastructure-oriented investment.
Faber told Trish
Regan and Matt Miller “I think that we had a colossal credit bubble in
China and that this credit bubble is now being gradually deflated…if
I look at export figures from China, and they are very closely
correlated to overall economic growth, then there is a huge discrepancy
between what China reports and what China’s trading partners are
He said, “There’s lots of funny things that are happening in China. And when the whole thing unwinds it will be a disaster.”
view is that the trade figures out of China do not correspond with the
aggregated trade figures coming out of China’s trade partners. He
believes the economy has slowed markedly and that GDP growth is more in
the 4% region than the 7.5% region.- Source, Credit Writedowns:
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.