Jim Chanos on China
Von Pepe sends this interview with hedge fund manager Jim Chanos, saying that he makes some interesting remarks about GDP accounting. Start the video at 4:30.
Note that I am not endorsing Chanos’ overall opinion of the Chinese economy; I haven’t studied it enough. I know they have been inflating their money and credit, but on the other hand many Asian countries in general have been liberalizing their economies through various measures over the years, and I expect that trend to continue. It’s possible that both Jim Rogers and Jim Chanos are right: China will be the dominant economy in the 21st century, but it’s going to have a crash real soon.
Anyway, Chanos definitely makes some interesting remarks about Western analysts who decry intervention but then praise some particular micromanagement by Chinese communists. I have been frustrated by such analyses too.
