By Jeff Clark in Growth Stock Wire:

The Chinese growth miracle is hogwash.

At least, that's the opinion of famed short seller Jim Chanos – who is most noted for uncovering the fundamental flaws with Enron. In a recent report put out by his hedge fund, Chanos compared the credit expansion in China to the U.S. subprime market and the housing boom before they went bust.

"It's Dubai times 1,000," he says.

Forbes has also joined the "bearish on China" party... A recent article points to "a speculative frenzy of borrowing" and "government bureaucracies foisting debt on state-owned business enterprises."

Nothing says "bubble" like a rapidly increasing pile of debt. And right now…

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