"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or your arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that you were our countrymen."

Saturday, 9 January 2010

Hedge-funder Chanos predicts China's collapse

Hedge-funder Chanos predicts China's collapse
Of course, Chanos is not alone in believing China's stimulus package and aggressive bank lending are creating false demand that could later collapse. But his is one of the loudest voices to be saying it. "The Chinese," he warned recently, "are in danger of producing huge quantities of goods and products that they will be unable to sell."

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