Jim Chanos was on CNBC today (see video below) and made a couple of good comments on China’s banking system and FX reserves…
1. China has its funds already, their reserves are fully invested, “there’s not  just some free pot of money waiting to be deployed.” They will not save Europe, they are already invested in Europe’s sovereign debt.
2. The Chinese banking system isn’t read for a real estate bubble… it was never properly bailed out in the last 2 crises, just papered over.
   
3. The Chinese banking system should thank Greece and Italy for keeping the attention off it.
See full interview below…

Share →