“The Chinese banking system is built on quicksand and that's the one thing a lot of people don't realize. [...] Everybody seems to think it is a free and clear open checkbook. It's not. [...] The banking system in China is extremely fragile.” PeopleThinkingSeemsRealizingClearOne ThingBuiltChinaChineseFragileBankingBanking SystemQuicksand Author:James Chanos
“The Macau casinos have a wonderful business, it's taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more.” LittlesBitsGrowthNumbersCompanyWonderfulLittle BitWesternManagersChineseElsewhereBusinessmanGambleAccountingCasinosMacau Author:James Chanos
