Jim Chanos is on CNBC this morning, and he's talking China.
He's still bearish, particularly on industrial commodities that China imports (iron ore, specifically).
Based on his data, there's still a huge boom in condo development, and yet actual purchases have already flattened out, suggesting massive unsold inventory is already piling up.
As for ramifications of a crash, he argues that the US would be in relatively good shape and that Europe would be far worse off, given how much more they export to China.
Jim Chanos gave a devastating presentation on China at Mish Shedlock's Wine Country Conference. Chanos has been bearish on China for quite a while. However, his new presentation is particularly fascinating because it has some pretty... Read Post
Well-known China bear Jim Chanos is on CNBC. We're taking notes: The residential slowdown has already begun. Sales offices are closing. The overall China boom is already beginning to sputter. Not sure if a collapse will have systemi... Read Post
Sorry China bears, but the much-hyped commodity slowdown of 2011 isn't materializing. Fresh import data showed surprise jumps in copper and iron ore demand in January. Sequential contraction is what was expected. Join the conversati... Read Post