China's economy probably growing at an annual rate of 4 %, according to
Marc Faber , known in the investment community with extremely negative
outlook. " I told an economist , I believe that the second-largest
economy is growing at a rate of 4 % per year, and he asked me, lest I
mean rate of minus four percent ," said Faber to financial magazine
CNBC. " I do not think that growth was negative in the amount of 4% ,
but must be included in the projection state of the credit market, which
is at healthy levels ," says Faber. China's economy grew by 7.7% last
year as projected on the side of growth this year of 7.5 %, according to
government data. Big credit growth is one of the main risks to the
growth of the Chinese economy , according to market observers. In recent
months, the central bank of the country , apparently realized the
problem, some efforts to address the poor state of the credit market.
Contrary to the opinion expressed by Faber , retail , long-term
investment and industrial production were better than expected. Faber
motivate their negative expectations with other indicators, such as
sales data with neighboring countries that might provide better
information for the Chinese economy in the distorted statistics of the
country. "You have to take into account other indicators that are more
reliable , such as data export to countries like Taiwan and South Korea
," said Faber. Faber confirmed positive attitudes for gold, commenting
that the precious metal is relatively cheap right now.
Contrarian Investor Dr.Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.
