China’s slowing economy may be the biggest threat to the global economy according to Marc Farber.
“We have now hard evidence that the Chinese economy is hardly growing at the present time,” the publisher of The Gloom, Bloom & Doom Report told CNBC.
According to Farber, China’s economy could have a ripple effect on the rest of the world, as opposed to Greece’s economy, which is not as large scale as China’s. The current global market is very fragile, with the U.S. market becoming “oversold,” Farber said. “It’s rebounding, but in my view, we’re not going to see any new highs.”