China-bubble evangelist James Chanos took to the airwaves once again to proclaim that the booming Chinese economy is about to go bust.
With as much as 60% of its gross domestic product tied up with construction, the Kynikos Associates chief told PBS’ Charlie Rose that China is “on a treadmill to hell.”
“They can’t afford to get off this heroin of property development,” Chanos said. “It is the only thing keeping the economic growth numbers growing.”
Chanos, who first publicly predicted the coming Chinese crash in January, said the bubble could burst by the end of this year or next year.
Transcript: Charlie Rose Interviews Famed Short Seller Jim Chanos (April 2010)