When I think of a China bull and a China bear, I think of the legendary dueling Jims: Jim Rogers and Jim Chanos. In response to investors bearish on China, Jim Rogers famously said: “I find it interesting that people who couldn’t spell China 10 years ago are now experts.” Jim Chanos famously said that China’s real estate market is “Dubai times 1,000 — or worse.” He’s been saying that for over two years. Chanos points to a credit bubble, and says he’s early and sticking with his short positions. Rogers insists “China is not in a [credit] bubble,” rather it’s been in a price bubble in urban, coastal real estate, and to compare China to Dubai is a false analogy. Jim Rogers is bullish on China’s long term prospects: “China is going to have many serious problems along the way as it rises, but ‘Dubai 1000 times over’?!”
