Jim Chanos China Presentation titled ‘China: The Edifice Complex’ The presentation is from a speech which took place at the Wine Country Conference on April 5, 2013. Jim Chanos covers Chinese banks, corruption, housing, infrastructure, debt, wages and more. Below is an excerpt from the wealth destruction section:
Large-scale capital projects grow sillier by the day
–New South China Mall – world’s largest and loneliest
–New Ordos – empty city in Inner Mongolia
–Sky City One – world’s tallest building to be built in only 90 days
•Massive infrastructure spending continues
–1,188 new shopping malls by 2015
–Airports: 14 opened in 2012 and 12 to be constructed in 2013
–Subways: 28 cities get approval to build or expand subways
•Feasibility is secondary thought
–Overstate revenue and understate maintenance costs
–Is economic depreciation being factored in?
Below is the full presentation embedded in scribd:
Jim Chanos CHINA PRESentation for Wine Country Conference 5 April 2013
