Jim Chanos: There Are Cracks In China’s Economic Facade

Jim Chanos was on CNBC yesterday discussing possible signs that China’s housing market is weakening. He’s been a bear on China for a while but makes some good points in this interview. China hasn’t seen a housing bear market since private property was allowed there 12 years ago, so speculators haven’t felt the pain of a bust at any point in their lives. There’s been some recent news about Australia’s housing market coming under some stress as well so this might be an important thing to monitor as it will likely affect world markets.