What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just exchanged their bad loans for questionable bonds from quasi-state organizations.

Chanos (born 1957) is an American hedge fund manager and is president and founder of Kynikos Associates a New York City investment company that is focused on short selling. He questioned the stability of Chinese economy stating that historically analogous evidence points especially to a housing bubble mentioning commercial real estate in particular. James S.

James S. Chanos (born 1957) is an American hedge fund manager and is president and founder of Kynikos Associates a New York City investment company that is focused on short selling.