Chinese Growth May Only Be At 4% Instead Of Official 7.5%

China’s economy is probably growing at an annual rate of 4 percent, said Marc Faber, editor and publisher of the Gloom, Boom & Doom Report, brushing aside a recent string of upbeat economic numbers from the world’s second biggest economy.

“I said to an economist I think China is growing at 4 percent per annum and he said do you mean minus 4 percent?,” Faber told CNBC on the sidelines of a hedge fund conference in Singapore on Wednesday.

“I don’t think [China’s economic growth] is minus 4 percent, but we do have to adjust a lot of economic statistics for the credit that has been pushed into the system that is not sustainable in the long-run,” he added.

China’s economy grew 7.7 percent last year and the country has a 2013 growth target of 7.5 percent.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu