Wednesday, October 22, 2008

Dr. Marc Faber On Why There Will Be A Slowdown In Asia

The following passage is from CNBC interview.

  • He sees the same slowdown in Asia.

    “The U.S. produces very little," he said. "Asia is the producer for the United States and it is also the region that has very large capital spending. So when there is a slowdown in the U.S., it’s not good for the U.S., but it’s basically a disaster for Asia. Because of reduced demand in Asia it’s an even greater disaster for the resource producers of the world: the Middle East, Russia, Brazil. The whole world goes into a vicious down cycle economically, and the U.S. is relatively better off.”