Here's news that isn't. hedge fund manager Jim Chanos comments on Tuesday:
- China is on a path similar to the one that preceded Japan's lost decade in the 1990s
- Economy addicted to credit
- Doesn't appear to be facing an "imminent collapse,", but on a trajectory similar to the one Japan was on before its asset-price collapse in 1991 "but on steroids"
- "It takes time to sort out" the debt overhang
Said he isn't shorting the country's stocks because the equity market isn't a reliable gauge of economic activity. Instead, the slowdown will claim victims in global commodity and mining companies, especially liquefied natural gas producers in Asia, he said.
