Above is part of a Charlie Rose interview with James Chanos, hedge fund manager and founder of Kynikos Associates Ltd.
Chanos talks with Charlie Rose about China's economy, currency policy and the risk that investment will "dry up." He says China'a property bubble will burst as early as this year.
What grabs the attention of those in the Village on the Edge of the Rainforest is his comments at about the 1:30 mark of the interview.
He talks about all the 'hot money' that is going INTO China on this real estate speculation is from Chinese nationals outside the country; in London, Singapore, Vancouver and San Francisco.
It's a take on things that makes one sit up and take note. Pervasive has always held here that the situation was in reverse... that it has been 'hot money' from China inflating our Real Estate bubble.
Could it actually be a symbiotic relationship that is so intertwined that neither side sees it for what it is?
We will touch on this again next week.
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Friday, April 16, 2010
China/Vancouver Real Estate: A Symbiotic Relationship?
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