Marketwatch reports that China is heading into an economic storm, and the much-feared hard-landing of the world’s second-largest economy has already started, warned celebrated hedge-fund manager and China-bear Jim Chanos of Kynikos Associates on Monday.
“The numbers are falling faster than we thought,” said Chanos during an exclusive interview with MarketWatch on the sidelines of the 7th Annual New York Value Investing Congress.
Chanos also pointed out that Chinese financial and real-estate stocks are down 30% from their peak, while cement and steel prices are declining. “People are buying into the idea of perpetual growth,” Chanos said. “But they have to ask, ‘Are you really growing?’”
Chanos stressed that investors should understand that there is no bailout without a cost….
Read more at http://www.marketwatch.com/story/chanos-chinas-hard-landing-has-already-begun-2011-10-17
No comments:
Post a Comment