I think the issue for 2010 is to what extent China will slowdown. It will certainly slowdown because the loan growth we had last year, which was over 1 trillion dollars, and in January accelerated to 200 billion dollars...bank loans in January were rising at an annualized rate of something like 2.5 trillion dollars on a GDP that is slightly over 4 trillion dollars. Its not sustainable in the long run and we have a lot of excess capacities in China, in different industries and in particular in the real estate market. So credit growth will slowdown and that will obviously slowdown the economy.
in CNBC
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world. Dr. Doom also trades currencies and commodity futures like Gold and Oil.
