Famous short seller Jim Chanos talks to Bloomberg about the fragile Chinese banking system. “The Chinese banking system is built on quicksand.”
The People’s Bank of China, is described by Jim Grant as the world’s most broke central bank, leveraged at 1,297 to 1 at September 30.
Carl E. Walter and Fraser J.T. Howie make the case in detail in their book Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise.