Legendary investor and economist Marc Faber is skeptical about the prospects for China's GDP growth - based on AMarkets.
The immediate future of the Chinese economy, according to Faber - galloping growth of the credit debt plus a massive outflow of capital. Investors are now actively withdraw money from the private sector of China. According to estimates of Faber, China growing at 3-4% per year. This is much lower than the official figures from the Chinese government. October 18 another statistical report from the PRC showed an increase of 6.9%. As you know, the official value of indecent overstated. And this growth, as was China in 2000-2007. According to Faber, is not expected even in the distant future. During this period, China grew 10.5% rate a year on average. In 2007, growth was maximal at 14.9%.
This Faber believes that some sectors of China's economy is still promising. But it is certainly not the industrial sector and the export sector. Import, w / d, too, the traffic at a minimum.