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Chanos Says Evergrande Fall Will Be Worse Than Lehman for China: FT

The China Evergrande Centre in Hong Kong, China. Photo: Reuters.

 

(AF) Star hedge-fund manager Jim Chanos believes the China Evergrande crisis could have a bigger impact on Chinese investors than the Lehman Brothers collapse that sparked the 2008 global financial crisis, the Financial Times reported.

Short seller Chanos, who famously predicted the Enron crash, said in an interview with the UK newspaper that the developer’s collapse would reshape China’s massive real estate sector, adding that the “whole Chinese property market is on stilts,” the report stated. Full report: Financial Times

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Mark McCord

Mark McCord is a financial journalist with more than three decades experience writing and editing at global news wires including Bloomberg and AFP, as well as daily newspapers in Hong Kong, Sydney and Melbourne. He has covered some of the biggest breaking news events in recent years including the Enron scandal, the New York terrorist attacks and the Iraq War. He is based in the UK. You can tweet to Mark at @MarkMcC64371550.

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