There's something that worries Marc Faber more than Europe: China. Faber warned of a China crash in an interview today with King World News.
He says the slowdown is evident from his home in Chiangmai, Thailand:
"In China, if the economy slows down meaningfully or if there is a crash, it will have a huge impact on the demand from China for raw materials, for commodities. It will impact Australia, Africa, the Middle-East and Latin America...
"I’m sure the economy (of China) is softer than official statistics would suggest and probably the government will start to print money at some point. So maybe stocks will rebound here because of money printing, but again, it won’t help the economy....
“I live in Asia and all I can say is I observe a meaningful slowdown in business activity recently and increasing corporate earnings that disappoint...
“There’s a huge capital flight [from China], there’s no question about this.”
He says the slowdown is evident from his home in Chiangmai, Thailand:
"In China, if the economy slows down meaningfully or if there is a crash, it will have a huge impact on the demand from China for raw materials, for commodities. It will impact Australia, Africa, the Middle-East and Latin America...
"I’m sure the economy (of China) is softer than official statistics would suggest and probably the government will start to print money at some point. So maybe stocks will rebound here because of money printing, but again, it won’t help the economy....
“I live in Asia and all I can say is I observe a meaningful slowdown in business activity recently and increasing corporate earnings that disappoint...
“There’s a huge capital flight [from China], there’s no question about this.”
