Jim Chanos is on CNBC this morning, and he's talking China.
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He's still bearish, particularly on industrial commodities that China imports (iron ore, specifically).
Based on his data, there's still a huge boom in condo development, and yet actual purchases have already flattened out, suggesting massive unsold inventory is already piling up.
As for ramifications of a crash, he argues that the US would be in relatively good shape and that Europe would be far worse off, given how much more they export to China.
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And on this idea that the Chinese have cracked the code to figure out central planning: "Adam Smith is going to get his revenge in China."
