Jim Quinn makes the case that China has been inflating an economic bubble and that collapse is imminent within two years.
Jim Chanos has been calling a China bubble for over two years. Jim Quinn made the same case 18 months ago and there has been no major collapse yet. The supposed pieces of China house of cards do not add up to an economic collapse Shanghai Stock Exchange is the world's 5th largest stock market by market capitalization at US$2.7 trillion as of Dec 2010. China's stock market crashed in 2007 and has not recovered The US stock exchanges have a combined valuation that is greater than the US DGP and the London Exchange is larger than the UK GDP.
...China's hidden economy means that the rich are richer than official statistics indicate and thus the property is more affordable to the top ten percent.
The Chinese government has created a commercial and residential real estate bubble in an effort to keep peasants employed and not rioting in the streets. In the case of the US subprime mortgage bubble, critical thinkers like Steve Eisman and Michael Burry figured out it was a bubble three years before it burst. Jim Chanos and Andy Xei have been warning about this Chinese bubble for over a year. They have been scorned by the same Wall Street shills who denied the US housing bubble
Jim Chanos has been calling a China bubble for over two years. Jim Quinn made the same case 18 months ago and there has been no major collapse yet. The supposed pieces of China house of cards do not add up to an economic collapse Shanghai Stock Exchange is the world's 5th largest stock market by market capitalization at US$2.7 trillion as of Dec 2010. China's stock market crashed in 2007 and has not recovered The US stock exchanges have a combined valuation that is greater than the US DGP and the London Exchange is larger than the UK GDP.
...China's hidden economy means that the rich are richer than official statistics indicate and thus the property is more affordable to the top ten percent.