Think Again On China: It’s Really A Debt-Burdened Builder Of Bridges To Nowhere

China’s economy may be the ultimate grey swan, according to investor Vitaliy Katsenelson.

Katsenelson is concerned China’s enormous growth rates haven’t been built on anything real, but rather a command economy ready to collapse.

That command economy has created cities and malls with no residents, based on a demand it manufactured itself. His thoughts dovetail nicely with the thinking of that other well-known China bear: Jim Chanos.

It’s a powerful presentation, that also spells out the result of a Chinese collapse for the broader world economy. including a collapse in commodity markets.

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title=”The world is hooked on credit.”
content=”Source: Contrarian Edge
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[slide
permalink=”china-is-going-to-get-hit-by-weaker-customers-in-europe-and-the-us-3″
title=”China is going to get hit by weaker customers in Europe and the U.S.”
content=”Source: Contrarian Edge
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permalink=”not-enough-demand-for-cement-4″
title=”Not enough demand for cement…”
content=”Source: Contrarian Edge
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permalink=”and-not-enough-demand-for-chinese-steel-5″
title=”And not enough demand for Chinese steel…”
content=”Source: Contrarian Edge
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permalink=”growth-may-be-high-but-6″
title=”Growth may be high, but…”
content=”Source: Contrarian Edge
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permalink=”starbucks-dealt-with-this-problem-of-over-expansion-7″
title=”Starbucks dealt with this problem of over expansion…”
content=”Source: Contrarian Edge
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[slide
permalink=”but-china-has-yet-to-8″
title=”But China has yet to…”
content=”Source: Contrarian Edge
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[slide
permalink=”evidence-of-those-decisions-9″
title=”Evidence of those decisions…”
content=”Source: Contrarian Edge
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[slide
permalink=”ghost-town-10″
title=”Ghost town…”
content=”Source: Contrarian Edge
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[slide
permalink=”absolutely-empty-11″
title=”Absolutely empty…”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9265ccd1d5ab72140000″
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[slide
permalink=”on-every-street-12″
title=”On every street.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9261ccd1d51174060000″
caption=””
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]
[slide
permalink=”in-every-tower-13″
title=”In every tower.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc925cccd1d51174030000″
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[slide
permalink=”how-is-china-still-growing-while-the-world-slowed-14″
title=”How is China still growing, while the world slowed?”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9258ccd1d52d740d0000″
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[slide
permalink=”but-the-chinese-government-is-lying-15″
title=”But the Chinese government is lying.”
content=”Source: Contrarian Edge
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[slide
permalink=”evidence-of-those-lies-16″
title=”Evidence of those lies…”
content=”Source: Contrarian Edge
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[slide
permalink=”china-takes-it-up-a-notch-17″
title=”China takes it up a notch.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc924ccadcbba440060000″
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[slide
permalink=”but-china-has-to-do-whatever-it-takes-to-grow-18″
title=”But China has to do whatever it takes to grow.”
content=”Source: Contrarian Edge
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[slide
permalink=”and-the-massive-stimulus-was-no-surprise-19″
title=”And the massive stimulus was no surprise.”
content=”Source: Contrarian Edge
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[slide
permalink=”china-grows-the-world-slows-20″
title=”China grows, the world slows.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc923dccd1d58173080000″
caption=””
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[slide
permalink=”but-how-real-is-this-21″
title=”But how real is this?”
content=”Source: Contrarian Edge
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[slide
permalink=”property-prices-still-surging-22″
title=”Property prices still surging.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc922f4bd7c8cc3e0a0000″
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[slide
permalink=”and-affordability-is-awful-23″
title=”And affordability is awful.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc922cccd1d52974050000″
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[slide
permalink=”massive-quantities-of-empty-homes-24″
title=”Massive quantities of empty homes.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc922849e2aed638050000″
caption=””
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[slide
permalink=”property-investment-a-huge-part-of-the-economy-25″
title=”Property investment a huge part of the economy.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc92244bd7c8363e670000″
caption=””
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[slide
permalink=”the-problems-of-the-command-economy-26″
title=”The problems of the command economy.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc921fccd1d52674040000″
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[slide
permalink=”beware-what-is-once-true-is-not-always-true-27″
title=”Beware, what is once true is not always true.”
content=”Source: Contrarian Edge
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[slide
permalink=”the-fearful-what-if-28″
title=”The fearful what if.”
content=”Source: Contrarian Edge
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[slide
permalink=”dont-think-china-is-superior-29″
title=”Don’t think China is superior.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9216ccd1d50c74110000″
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[slide
permalink=”is-the-chinese-consumer-ready-30″
title=”Is the Chinese consumer ready?”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc92124bd7c81a3e180000″
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[slide
permalink=”but-there-are-serious-problems-31″
title=”But there are serious problems.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9210ccd1d52674010000″
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[slide
permalink=”migration-a-big-concern-32″
title=”Migration a big concern.”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc920eccd1d50c740e0000″
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[slide
permalink=”population-not-properly-counted-33″
title=”Population not properly counted.”
content=”Source: Contrarian Edge
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[slide
permalink=”debt-actually-pretty-big-in-china-34″
title=”Debt actually pretty big in China”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc920a49e2aeeb2f190000″
caption=””
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[slide
permalink=”and-what-if-china-busts-35″
title=”And what if China busts?”
content=”Source: Contrarian Edge
image=”http://static.businessinsider.com/image/4cbc9207ccd1d53a73170000″
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[slide
permalink=”still-a-china-bull-36″
title=”Still a China bull?”
content=”Check out 10 Chinese companies set to dominate the world by 2020 >
image=”http://static.businessinsider.com/image/4c3088d77f8b9a9061af0300″
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