As mentioned in our previously posted article, Jim Chanos stated that, “[The Chinese government] doesn’t [have money], and that’s the problem. The banking system in China is extremely fragile, and that’s one of the messages we wanted to get to people”.
While everyone is panicking about a soft or hard landing in China, investor Jim Rogers continues to be bullish on the country. In an interview with CNBC, he says that China is slowing down because it wants to slow down, and investors should not be surprised by it.
Few of Jim Rogers quotes from interview with CNBC:
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“In America people could buy four or five houses with no job, no money down and then the banks took the mortgages and diced them up even more. In China you cannot buy one house with no money down, with no job. There are strict limits on housing.”
“Yes there’s been a housing bubble in urban-coastal real estate in China. Yes its going to pop because the Chinese government is popping it with their own will. Americans certainly didn’t do anything like that.”
“China is the largest creditor nation in the world. America is the largest debtor nation in the history of the world. I’d rather be with the creditors than with the debtors any day.”
The entire interview is embedded below: