Jim Chanos: China Debt is Worse than Europe Debt

[Nueroactive]

Jimmy, Jimmy, Jimmy, you got punched in the face by "Mr Incredible" knocked through a few walls? What do you think the chinese seamstress with a male's voice was really doing with the cyber suits? Reeks of invasions in the country doesn't it.

[TheGoat1954]

I betcha Bill pinched that ass .

[DeporteeTV]

This man does not know what he is talking about, china is one of the only countries that have their debt under control. The reason they haven't got money is because all these other countries can't pay china due to their own financial problems. The news is twisted, check the trades

[cnxtrans]

@DeporteeTV You may be right for government debt, but localities debt is staggering. Check Mish Shedlock blog (China Instructs Banks to Roll Over $1.7 Trillion in Debt to Avoid Mass Default) for details.

[pookatim]

Top marginal tax rates were 90% alright, but no one actually paid that rate. The tax rate came down and the loopholes were closed. So the net return remained constant. This is an expert?

[blueice990]

he's a short seller, hes banking on the tanking of markets.

[fightfeces]

Such Garbage. China has 6,000 years of Intellectual History and Americans had about 200 years. Every major war and/or event was "pretexted" by China as retaliation for the Opium Wars. China thinks VERY long term. Google: "KOWTOW". LEARN IT. PRACTICE IT. BE ASHAMED BUT THANKFUL CHINA WILL FORGIVE ONCE LEARNED AND ONCE THE SHAME IS FELT. 3w,osunrise,com (Operation Sunrise) and my FAKE Church Operation 3w,JesusOSunrise,com

[TheDualEconomist]

@fightfeces First it was 2000, then to compete with Egypt it was 3000, then it was 5000, now its 6000? Too bad no outside non-Chinese sources correlate that.

Either way, America has history through Europe so moot point. Besides, Africa is the oldest civilization and it is shit. So is China and India. Seems to me new countries are more successful. So, maybe, China needs to evolve?

[xilitol]

american pigs sigh.... white trash blah blah fuck you all ;)

[drab6969]

Everybody is in debt one way or the other. Every country is connected to each other either by trade deals, banking, and through political connections. The US has a sovereign and trade debt as well as Europe. China is going that route too because they face the same problem that the others are having. Lack of transprency, corruption and no accountability and regime thats forcing its people, and the provinces to take out loans and make cheap credit ability available to most of the Chinese!

[mrzack888]

racist reporter saying "chinks in the armor".

[TheDualEconomist]

@mrzack888 Are you serious?

[mason72518]

Who is demonizing teachers and fire fighters? I have never heard such nonesense before.

[HDaviator]

@mason72518

then you haven't been watching/reading allot of right wing news.

[mason72518]

@HDaviator What demonizing do the right wing outlets do?

[hkrainman]

I am not refering to Auto industry, I am trying to establish a counter point to Jim Chanos point, please research this - Billionaire investor George Soros recently met with Hong Kong real estate developers and agents and is reportedly planning a property fund to invest in real estate projects in mainland China and Hong Kong.

[hkrainman]

George Soros are investing in Hong Kong and China - "NOW"

[minerva3181]

@hkrainman Soros is investing in PYD too, the biggest enviromental-friendly sham in history. Cars using coal-fire electricity pollute 3 times more than conventional combustible engines. Going back to coal burning transport abandoned more than a century ago is not progress. If electric cars really take off, the carbon emission would be the end of China and the rest of the world.

[energyalt56]

China has 2.8 trillion in reserve can be use at any time as see fit

China is pulling Asia market goes up that lead the world economic is doing better

China's portentail is so gigantic plus hard working mass production as locomotive for the world

The world will fall first before China goes down because they are export oriented and products are based, not services oriented market

[AmericanPatriot53]

@energyalt56 You are right that the world will fall before China but the world has fallen and is significantly impacting Chinese exports. However the Chinese growth miracle has been based primarily on unprecedented levels of construction at levels never seen before in the world. When construction comes to a sudden halt, all those workers and business which is construction oriented will find themselves jobless or out of business. I watched it happen in the US and it really impacts everything.

[TheDualEconomist]

@energyalt56 There have been two countries with major trade surpluses. America and Japan. Both had catastrophic collapses when they were at their prime.And, even to a lesser exent, the smaller Asian countries, which also collapsed.

Meanwhile, China has a drastically dwindling population at a time when they are becoming more and more reliant on cheap labour. In order to maintain growth, they'd have to transition to a m ore adanced economy. They aren't doing it. That's really going bite past 2013

[DontTreadOnMe213]

@energyalt56 Being export based is worse than a consumption based market. If demand tumbles, China is the first who will take a hit. This Macro-Economics 101

[hkrainman]

Well he need to tell this to Soro, Soro transfer majority of his cash to Hong Kong ready to buy huge in Hong Kong and China.. as well as many of the 1% of Americans.. use your brain!

[nokia3210fuck]

China is the biggest creditor of the world.

So China doesn't have any debt at all.

Yes China has debt but the money that countries owe China is much more than Chinas debt is, therefore China doesn't have any debt.

[ltmikepowell]

Another hedge fund manager. Who want to trust hedge fund members when they had conned THOUSANDS of average citizens?

[NormanStansfield1]

@ltmikepowell

James Chanos helped expose Enron. I think you saw Clinton's name there for his "Global Initiiative" aka his slush fund. Clinton conned hundreds of millions of citizens and was even closer to Ken Lay than Bush was.

[ltmikepowell]

@NormanStansfield1 Again, I don't trust hedge fund members. Remember how those freaks destroyed U.S. economy? And I still considered them as one of the few economy terrorists.

[shibuihito]

ponsi economy was collapsed

[MaryWaterton]

I find it hard to believe that China is in worse shape than Europe given that China owns $2 TRILLION in US Treasuries. If China goes down, then America goes down. Right? But that can't happen because Moody's & Fitch gave the US Government a AAA rating, and S&P gave a AAa rating.

[sustainablehuman]

@MaryWaterton No, the Central Government only 'owns' about $900B of US treasuries, but has nearly 2T of USD denominated reserves. How is that? Well, Chinese exporters deposit USD in Chinese banks, the Chinese government then issues CNY and 'exchanges' CNY for USD, and the exporters bank account is denominated in CNY, and the Central Government then holds USD against the CNY deposits.

Is the US consumer stops spending, those Chinese exporters will start withdrawing funds to cover their losses.

[TheDualEconomist]

@MaryWaterton 9/10 banks and instiutions which collapsed in 2008 had AAA ratings less than 30 days before they went COMPLETELY bankrupt.

What's your point?

[vikramkrishnan]

@MaryWaterton Those assets have counterveiling liabilities against them. Japan had huge reserves in the 80s, US have huge reserves in the 30s. Did that prevent a depression?

[MrArtrigor]

Oh..Carol....nice interview...tons of information...Jim is smart.....