Monday, January 25, 2010
Famed short-seller Jim Chanos talked to CNBC this morning about the Chinese economy and the country's "unprecedented" real estate bubble (related story here).
Favorite line on the broader political/economic issues:
It's an interesting aside and others have made the point before me but, I find it intriguing as we've done our work that it's become apparent that China has embraced capitalism to keep the socialist elites entrenched while, more lately in the West, we've embraced socialism to keep the capitalist elites entrenched. So, opposite sides of the same coin.