From Forbes:
The famed short-seller Jim Chanos has been making waves lately by saying he thinks China is in a bubble and ready to collapse in 2010. He argues that easy credit has let real estate and stock market prices shoot upward. He also says the Chinese government is cooking the numbers to show 8% growth in gross domestic products, when actually China can't keep growing when the rest of the world has been hit so hard by the financial crisis.
Chanos called it right on Enron and Tyco before they collapsed. He is no lightweight observer of the economic scene. However, he is wrong about China...
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More on China:
China is intentionally creating a bubble
Master short seller Jim Chanos: China could crash soon
Forbes jumps on the "China is going to blow up" bandwagon