Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.
The Shanghai Composite Index has failed to regain last year’s high while industrial commodities and shares of Australian resource exporters are acting “heavy,” Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen,” he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.
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Seeking to assuage apprehensions about the future of cross-strait relations, Democratic Progressive Party (DPP) Chairperson and presidential candidate Tsai Ing-wen (蔡英文) yesterday reaffirmed her party’s willingness to hold talks with Beijing. Concluding a three-day visit to the Philippines, Tsai made the remarks during a breakfast meeting with reporters. The DPP, she said, was willing to sit down with China to discuss proposals for building a “feasible and viable” interaction framework between the two sides, adding that the talks would not come at the expense of the DPP’s political values and principles. |
