[Mark] Hart, who runs Corriente Advisors from Fort Worth Texas, has told potential investors in a presentation that China is in the "late stages of an enormous credit bubble".The article goes on to detail what is going on in each problematic sector. The only thing that is really new is Mark Hart's estimate of China's debt to GDP ratio, which is 107% under conservative estimates and may top 200%.
When this bursts, the financier said he expects an "economic fall-out" that will be as "extraordinary as China's economic out-performance over the last decade".
February 2010 - The FirstPost
Meanwhile, Hart and Gave have set up a fund to bet that the Chinese economy is over-stimulated and heading for a
significant crash, as predicted in my report yesterday.
October 2009 - Dallas News
"They have built more factories, shopping malls, condos, roads and bridges than could ever be put to good use, even assuming a dramatic upswing in global growth," Hart said. "Growth in actual wealth has dramatically lagged growth in credit, growth in money supply and growth in GDP. This is not sustainable."
[Catch the rest of the China Crash Predictions Series]
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