Jim Chanos updates on the credit and real estate bubble in China and why this presents a major risk to the global economy: ” Things can take a long time to build up but when they go, they can go all at once.”
“[China] has been a very bad place to keep your money…The Chinese economy has quadrupled in nominal terms in the last 10 years,” he says. “Western investors in the Chinese stock market have basically made nothing in that 10-year period. That’s a staggering indictment of the form of capitalism that exists in China.” And if the bubble bursts Western investors stand to lose whatever investment they might have made. Chanos explained his concerns about China.”
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