REUTERS/XihaoPeople look at a hand-made replica of a Lamborghini Reventon as they drive past it in Suqian, Jiangsu province August 30, 2012. Wang Jian, who worked at a garage for more than a decade, built the replica of a Lamborghini Reventon with a second-hand Nissan and Santana.
I and a few brave experts such as Jim Chanos, Gordon Chang, and David Stockman (speaking at our upcoming IES conference) have been arguing for years that China has the greatest investment and overbuilding bubble in all of modern history.
We’ve also warned that its economic statistics are not real – they are purposefully overstated and then revised later, if at all.