Chanos: We're "Absolutely" Still Short China, And The Yuan May Be OVERVALUED

Jim Chanos is on CNBC, and he confirms that he’s “absolutely” still short China property, and he’s still short commodity plays that go into China (in Brazil and Australia).

He does admit that the commodity rally has hurt, but he’s used to that, and not worried.

And he raises the possibility that the currency debate is totally wrong, and that with the necessary reliquification of the Chinese financial market, government may need to print tons more yuan, suggesting it’s overvalued, not undervalued like the entire world things.

Net exports, he argues, aren’t as big of a deal as they used to be for the Chinese economy.

He’s still describing the Chinese economy as a “treadmill to hell” because the country has to keep building like crazy just to keep the GDP numbers up.

It’s a centrally planned economy, still, says Chanos, and it’s a myth that there’s really capitalism in the country.

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