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.
James ChanosI call it the Rule of Three. If you read a company's financial statements three times, and you still can't figure out how they make their money, that's usually for a reason.
James ChanosWhat American people and what the markets want is a fair and level playing-field, where the rules are clearly elucidated, where the referees are competent, and where we know that the game is not rigged.
James Chanos