Jim Chanos: Situation in China is Deteriorating Rapidly

Jim Chanos: Situation in China is Deteriorating RapidlyJim Chanos, founder of Kynikos Associates Ltd., discusses China’s economy, banking and real estate industries. Chanos, speaking with Michael McKee from the Global Alternative Investment Conference in New York on Bloomberg Television’s “In the Loop with Betty Liu,” also talks about his investment strategy and the 2012 presidential race.

Below are some quotes:

“The fact that people are even talking about the government stepping in to shore up the banks, when two months ago people thought there was nothing wrong with the Chinese banks, should tell you just how seriously this situation is deteriorating.”

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“virtually all of the large banks in China,” said today that the country’s property market is in the “first parts of a very serious pullback.”

“The property market is what investors ought to be watching, because that drives everything in China.”

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