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China Inc.

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Pigmalia
Dignitary

Sat Jan 09, 2010 9:09 am

We all know China games the capital system, but does that mean that they have indirectly caused severe underlying weaknesses?

Quote:

Contrarian Investor Sees Economic Crash in China

James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true.

Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc.

As most of the world bets on China to help lift the global economy out of recession, Mr. Chanos is warning that China's hyperstimulated economy is headed for a crash, rather than the sustained boom that most economists predict. Its surging real estate sector, buoyed by a flood of speculative capital, looks like "Dubai times 1,000 -- or worse," he frets. He even suspects that Beijing is cooking its books, faking, among other things, its eye-popping growth rates of more than 8 percent.

"Bubbles are best identified by credit excesses, not valuation excesses," he said in a recent appearance on CNBC. "And there's no bigger credit excess than in China." He is planning a speech later this month at the University of Oxford to drive home his point.

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Pigmalia
Dignitary

Wed Jan 20, 2010 9:26 pm

Quote:

Beijing reported...that exports...grew...rising by...17.7%. Consumer spending...increase...45%...saw China overtake the United States as the biggest car market.

posts: 4734 | location: Autonomous Inland Empire - Occupied | joined: 02 Feb 2006

ozzie the blade
Adjutant

Sat Jan 23, 2010 11:07 pm

The thing with China is simple. Western civilization (Europe/America) sees and portrays them as the bad guy, they have also been saying for years now that the Chinese economy is going to burn itself out and crash hence sending them economically back to the stoneage. But guess what. China keeps getting stronger and stronger. I can't remember when I read it, but it was a year or 2 ago now, but in 12 months more people in China bought cell phones and laptops then the entire population of America. If the whole American empire theory is true and China being the largest international rival to the U.S of A. Then it is understandable why all the major U.S. economists are predicting/hoping that the Chinese economy crashes. All the corporate greed in America would be most upset if they lived in a world were the international economic market was controlled by China...

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