The exact moment Jim Chanos decided he would bet against China
In a recent interview with New York Times' op-ed columnist Joe Nocera, Chanos shared the exact moment when he decided to look into betting against the country.
It happened around the time Kynikos Associates was looking at why commodities companies were making so much money. Chanos knew it had something to do with China, so he had some folks at his firm examine why China was buying all this iron ore, copper, and aluminum.
"I'll never forget the day in 2009 when my real estate guy was giving me a presentation and he said that China had 5.6 billion square meters of real estate under development, half residential and half commercial," Chanos told Nocera.