Panda bears

摘要

ONE year ago bears on China were a rare species. People scoffed at Jim Chanos, a well-known short-seller, who predicted that China would end up "like Dubai times 1,000, or worse". Nor did they heed Hugh Hendry, the eccentric boss of Eclectica Asset Management, who posted a homemade video of himself wandering Chinese streets and gawking at abandoned skyscrapers on YouTube.