China Credit Bubble Trouble: Chanos: ""New credit outstanding jumped by $1 trillion U.S." he said, adding that China's economy was equivalent to $8 trillion in U.S. dollar terms. "So, on an annualized rate, that's 50 percent of GDP, new credit creation.
"To put that in perspective, the total new credit globally went up by a trillion and a half in the first quarter. China was $1 trillion of that, yet it's only 10 percent of the world economy."
'via Blog this'
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