China is facing the US financial crisis ‘on steroids’ as its real-estate market collapses, famed hedge-fund boss says
By Filip De Mott
February, 6th 2024
China’s overreliance on real estate has sent its economy tumbling toward what could be a version of the US’s 2008 financial crisis, Kyle Bass said on CNBC on Tuesday.
“This is just like the US financial crisis on steroids,” the Hayman Capital founder said. “They have 3 ½ times more banking leverage than we did going into the crisis, and they’ve only been at this banking thing for a couple of decades.”