On “Squawk Box,” short-seller James Chanos and Jim Cramer disagree on the extent of China’s economic problems, but they do agree on one thing. One thing is certain, Cramer needs a vacation.

Jim Cramer

Video and computer transcript below:

jim, i have to ask you this, i recommend any chinese stocks, but that is a legitimate asset. you had four things yesterday. mike sutherland came on as the ceo of joy global as plain as plain can be and said for the last two months electricity stabilized after a aheads you decline and then the freight jumped on monday. am i look shunting for green shoots sn i’m look shunting for something contra to the idea ofeverything bad to china. the real estate market we were first concerned about is still sort of bubbling along f you will. this is a weak number. as their company gets more service oriented as op to manufacturing it is still a bad number. china is going to grow by 30% plus gdp. this economy is hooked on steroids and suddenly now they are all firing and i’m mix shunting metaphors, but there are a lot of things going forward and there’s questions about leaders for the first time. we are see shunting real political issues for the first time in a long time. zbl you did just agree on the same point. jim, you wouldn’t invest inchinese stocks. he’s been shorting the shares. they just treat stocks as if they are mandated prices. anybody who owns stocks there reminds me of japan in 1988 when you say, we are take shunting up tokyo railway tonight. it is as corrupt as you can be.