For the past several years, well-known hedge fund manager Jim Chanos of Kynikos Associates has been an outspoken China bear. He explains how he became concerned that the world's second largest economy is headed for trouble.
I tried to identify the specifics of our disagreement, what assumptions both of us were making. And then tried to focus the discussion on these more precise points of disagreement. In the end we each learned from the other.
Chanos and Paul Singer briefed prominent policy officials about the growing financial instability. They told officials that banks that were about to sink the global economy. They called for decisive action. And they were ignored.