American - Businessman | 1957 -
In China, remember, the the banks are arms of state policy. They loan because the local party official or regional party official tells them we need a new stadium. They are instruments of state policy.
James Chanos
RememberPartyNewLoanNeedChina
There's almost 70 billion in square feet under construction in high rises in commercial, residential and light manufacturing. And we estimate about 30 billion square feet, and that's with a 'B,' is commercial, that we would just consider office space. To put that in perspective, that's a 5x5-foot cubicle for every man, woman and child in China.
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