The next major risk for investors is China's "colossal credit bubble," Marc Faber, editor and publisher of The Gloom, Boom & Doom Report told CNBC.
"Whether they [Chinese government] can ensure continuous growth will depend on reforms and how to deflate the colossal credit bubble we have in China. This is going to be a huge problem because we have so much underground credit, questionable loans outstanding and questionable investments," he said.
