From MISH'S Global Economic Trend Analysis:
Faber says China faces a recession defined as a slowdown to 3%.
Interestingly, 3% is the same long-term target that Michael Pettis at China Financial Markets has come up with. Indeed Pettis has made two bets with the Economist over growth rates and when Chain will surpass the US in terms of GDP.
The Economist says China will pass the US up by 2018. Pettis and I say no way. Pettis also says China will average 3.5% or less growth for the rest of the decade. I agree with Pettis....MORE, including video
