Apart from so dodgy traders in China, the Chinese are patient and have a view to investing - not speculating and much of Asia is the same.
US as the center of the world economy is going down and Europe and Asia are coming up. I believe his predictions are not completely inaccurate, however it fails to take into account the shift to a world economy where the US is not the king anymore.
There is one other explanation -- he is writing a book and needs the media exposure!
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