As a businessman who lives in China for over 10 years, it is easy to say it is quite simply the case that Mr. Chanos is another misguided China-basher like Gordon Chang who doesn't even live here. Check the FACTS in the article I wrote and it will be easy to understand the key points which Mr. Chanos and so many others neglect to weigh in their view of China. Yes, China's real estate market has particular pocket bubble areas. That's interesting to note, but far from a telltale sign of what's happening in an entire country's economy. China is not by any stretch even close to being in a bubble. It is more like the U.S.A in 1950-60, at the beginning of a very long societal and economic expansion.
NEVER IN HISTORY HAS A COUNTRY WITH PLENTY OF CASH, WHOSE GOVERNMENT HAS PLENTY OF CASH WITH MODERATE DEBT, AND WHOSE CITIZENS HAVE PLENTY OF CASH WITH EXTREMELY LOW DEBT, HAD AN ECONOMIC COLLAPSE. CHINA WON'T BE THE FIRST.