"When the reality of no stimulus catches up with the perception of stimulus plus the Fed tightening: that's the train wreck. Either we're going to have a recession or a stock market correction," James Rickards said.
"China's economy will stay on a steady course with fairly fast growth. It's still operating in a proper range with a growth rate of 7 percent...Our economy is under pressure but that is part of the path on the way toward growth," the 62-year old leader told US diplomats and corporate leaders at a dinner in Seattle on Tuesday.
Beijing and Moscow are competing for influence and profits in Central Asia, invoking a centuries-old battle for the energy-rich area, but political pundits are at odds as to who's winning so far.