Recent economic data![ext]()
out of China suggest the country's slowdown may be ending. This has caused China's stock market to rebound in recent periods. And many economists warning of a hard economic landing have been silenced.
However, famed hedge fund manager Jim Chanos warned![ext]()
Bloomberg's Susan Li that one month's worth of good data doesn't make a trend.
Chanos has been shorting Chinese banks since 2010. And he used an interesting analogy to explain how deleveraging in China has only begun.
“Imagine a credit python - the U.S. is the pig at the end of the snake, and China and Asia are the pig entering the snake in terms of deleveraging the banks,” Chanos said.
On the bright side, it sounds like Chanos thinks that deleveraging in the U.S. is almost over.
*SEE ALSO: CHINA CRASH 2012: Here's Why It's Finally Happening >![ext]()
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Please follow Money Game![ext]()
on Twitter![ext]()
and Facebook![ext]()
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Join the conversation about this story »![ext]()
Reported by Business Insider 37 minutes ago.
out of China suggest the country's slowdown may be ending. This has caused China's stock market to rebound in recent periods. And many economists warning of a hard economic landing have been silenced.However, famed hedge fund manager Jim Chanos warned
Bloomberg's Susan Li that one month's worth of good data doesn't make a trend.Chanos has been shorting Chinese banks since 2010. And he used an interesting analogy to explain how deleveraging in China has only begun.
“Imagine a credit python - the U.S. is the pig at the end of the snake, and China and Asia are the pig entering the snake in terms of deleveraging the banks,” Chanos said.
On the bright side, it sounds like Chanos thinks that deleveraging in the U.S. is almost over.
*SEE ALSO: CHINA CRASH 2012: Here's Why It's Finally Happening >
*Please follow Money Game
on Twitter and Facebook.Join the conversation about this story »
Reported by Business Insider 37 minutes ago.