Famous China Bear Chanos Says Nothing Has Changed, Economy Still Trending Downward

More bad news for believers in China reform
Famous China Bear Chanos Says Nothing Has Changed, Economy Still Trending Downward
James Chanos of Kynikos Associates speaks at the 2011 New York Historical Society History Makers Awards at The Waldorf Astoria in New York, on Nov. 7, 2011. Andy Kropa/Getty Images
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James Chanos, founder of Kynikos Associates LP, first noticed China’s real estate bubble in 2009. He has then correctly anticipated the slow-down in the Chinese economy, which started in 2010. Now he has more bad news for people banking on reforms to save the day.

“The trend is unmistakable. It’s down. Surprises are going to be on the downside,” he said at a panel discussion at The China Institute in New York on Sept. 22.

He convincingly dispelled notions the economy is transitioning from an investment led growth model to a consumer-driven one.

They'll have to go through their credit event.
James Chanos, Kynikos Associates
Valentin Schmid
Valentin Schmid
Author
Valentin Schmid is a former business editor for the Epoch Times. His areas of expertise include global macroeconomic trends and financial markets, China, and Bitcoin. Before joining the paper in 2012, he worked as a portfolio manager for BNP Paribas in Amsterdam, London, Paris, and Hong Kong.
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