Jim Chanos: More Downside to Chinese Banks as Fundamentals Deteriorate

The biggest monthly surge in Chinese banks since January isn’t enough to stop Jim Chanos from shorting the financial shares as the portfolio manager wagers the country faces a credit crisis as bad loans increase. Chanos believes that the iron ore industry will be hit extremely hard. Jim Chanos believes the fundamentals of Chinese banks keep ‘getting worse and worse.’ Interestingly, Jim Chanos says that he would not want to bet against China or Asia in the long term. The latest video interview with Jim Chanos is embedded below: