None other than famous "Dr. Doom" Marc Faber has joined the chorus calling for a China crash
this year. Marc Faber is well known for warning clients about the 1987 Wall Street selloff but he has been right about as often as a flashing clock since then although Faber's views on long trends are very prescient. If you had followed Faber's advice in January 2007 (see The Sinomania! Show episode 3
) you would have missed out on the spectacular run up in Chinese stocks that saw the Shanghai Composite Index balloon to over 6,124. And Faber was wrong in 2003 when he said that SARS would ruin the Chinese economy. Most analysts believe and data appears to support continued strong growth in China with the risk to overheating versus a profound slowdown. Time will tell....
Labels: chinese stocks, economy, global economy, markets, stock market