what jimst threat is chanos said.asically, the market is hell in a handbag it. >> you can go and keep forgetting about it. >> keep building. not really based on consumption yet. >> there is an investment need. the problem right now. the need a politically and for employment to have big growth there and the demand for product, not there yet. it could be a year or so. ?> what would you buy >> what would i buy in china? >> or would you stay clear? >> the petroleum sector. it seems to be a good long-term growth. the iron ore has been a lot of concern over consumption. ones.re the big i think the commodities sector has some play right now because people are counting their money. no where to go. demand for fuel is so high. the americans have to export gas. .ut, the stops have political they need to lift.the bank has to recapitalize. it is based on need and not reality. >> marshall, stick with us. up next, not a bird or plane. the beast. have a look at this. we'll have a look at it after the break. ♪ >> it is been a while si

. >> will catch in that chat with jim chanos at 11:00 p.m.the stories making corporate headlines today. supply is the latest food scare. with bad dates. almost all of the prepackaged meats have been sold. closed andas been five people are under arrest. the bank of china has announced massive shares. under new rules, the four biggest banks might face a shortfall by 2019. the battle for at travelers in india is heating up. singapore airlines and a local partner are planning to start flights by september. last month, air asia started u.s. as low as 2 dollars >> it is the summer and it's time to plan the next holiday. the five leading cities in terms of tourism. ♪ >> all right. we have to take a break. we will hear from bank of america strategist. "on the move" is back in a couple of moments. ♪ >> a look of the trading day. where off a six year -- we are off a six year high. as the ipo taking place. g is upng's hang sen 0.8%. some of the shares right here. we go.o, there up 0.5%. no training in indonesia or malaysia. it is a public holiday. are n

. >> rose: we conclude this evening with jim chanos, an american investor who has provocative ideas about the future of the chinese economy. >> there is a saying in china-- the mountains are high and the emperor is far away. and all of the action, when the rubber hits the road in china happens at the local level, and that's where the technocrats in beijing, although they can direct things, there's a little bit too much faith that's put in the central committee in the planning committees, because at the local level, the intensives are still to produce numbers, produce growth at any cost. >> rose: a, and jim chanos when we continue. funding for charlie rose is provided by the following: >> and by bloomberg. a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: on april 5, million of afghanistans took to the polls to elect a new president. it produces no out-right runners, producing a runoff between ashraf ghani and abdullah abdullah. abdullah rejected the runoff. secreta

. > jim chanos is here, the president of the multi-billion-dollar investment fund. he gained prominence in 2001 on the wager of the demise of enron. he is been focused on china. following the credit bubble that has yet to occur in shanghai. he warned by doing business in the cities i like going to new york on the eve of the financial crisis. i am pleased to have him back at this table. welcome. you were bearish last time. are you still bearish? >> we are still bearish. not much has changed except the credit public is gotten bigger. everything that we talked about in 2010 has just basically doubled whether it is credit, the amount of vacant real state. >> some people argue the chinese appreciate the threat of a bubble and they are doing more in order to address it then other nations have. because of the nature of the political system, they can do it. quite the same people do not see it four years ago and now they believe the authorities have it under control. the problem is data. we take it with a large grain of chinese salt. the data shows the credit is completely w

he stued the violin and pi chano and cello and emerged as a prodigy.e was invited to conduct the nbc symphony from a national broadcast at age 11. he would go on to conduct more than 150 orchestras, 5,000 recording5,000 --5,000 performa0 recordings. he said, i am never looking for a perfect performance but an impassioned performance. he is survived by seven children and four grandchildren. he is appeared on this program many, many times over the years. i enjoyed his friendship and looked to him for an understanding of the majesty of music. here is some of those conversations. >> charlie: if you look at this remarkable career, the diversity of your career and all the things i mentioned in the introduction, what is it that's most important to you? is it -- what? >> well, making the music really come alive and to do so in a frame one feels completely unstressed, not freaked out. a young musician making his way is freaked out, he's nervous, afraid, he's ambitious, he wants to make his mark. then you get older, middle-aged, you want to maintain your positio

and i want you to -- if you would -- address comments that jim chanos made directly to us on this particular. i'd like you to read you his comment and then have you react if you wouldn't mind. he said rollups present a unique set of problems. they're usually accounting driven. we think valeant is playing aggressive accounting games when they buy companies and write down assets. end quote. he also points out a large number of executive departures. he points out a lot of insider selling as well. as a red flag, if you will. how would you respond to him? >> a couple of ways. number one, jim's wrong. i like jim. so i say that respectfully. the day after the deal, i knew jim was short the stock. i called him up and left a messa message. he never returned my call. i appeared on "squawk box" with andrew sorkin and michael porter to talk about valeant's business model, and i invited jim to join the show so i could address any and all concerns that he had. jim was not available, nor did he return my phone call. i don't even know if jim is short valeant anymore. and also he disclosed i think through "t

. >> you can catch charlie rose's full interview with jim chanos this evening. theing asia-pacific. japan's nikkei 225 is lower, fractionally lower. cost be is half of is 0.5%t up -- kospi up. australia's biggest ipo in four years trades today in sydney. paul, how much is this listing worth? itangie, they are raising dustier raising 2.5 billion dollars. shares have been priced at $2.10, which is toward the upper end of the suggested range. this is the biggest ipo in australia in four years. itt is since the float -- really is an opportunity to invest in demographics, if you like. an aging population. hospitalsprivate across australia. they had been making a loss, but they are expected to make a profit in the financial year 2014 in 2015. right now, is owned by the private equity firms tbg capital and carlyle group. they will retain 30% of the shares, but the balance has seen strong interest from super funds in particular. the malaysian fund and australia's super blackrock. today is the first opportunity for small investors, mom and dad investors, to buy shares in

chanos. is it a large audience? >> it is a steady audience.ook at corporate governance and the political system and they're always going to be clas ses. >> he has given a shot to the new york historical society. >> be sure not to miss the full interview on "charlie rose" on bloomberg tv. >> we went to oppose the twitter question of the day. can the u.s. negotiate with putin? tweet us. ♪ >> good morning everyone. olivia sterns is with me today. adam johnson as well. let's do a quick data check. it is friday and a four-day -- no, futures -4. there's a lot going on. yields are higher. weaker euro, stronger u.s. dollar. 81 on the blended basket of major trading partners stronger dollar for the week. what a week it has been. the gloom crew has been wrong. they are generating ever better profits and cash flows off of modest revenue growth. emanuel is a derivatives strategist at ubs. i love your note on a profit shock. what do you mean? >> basically, the quarter that is shaping up is quite good. it is as good as it has been sent 2011. we are happy ab

jim chanos, no stranger when it comes to shortselling, why hasn't he opined? >> did opine that he thought the fundamentals were sound. bills fundamentals were sound. look at the time it took built to take down nba. rodeo. not his first these companies fight back tooth and nail. i think what is helping to do is to get to the front of the line. not otherhen investors on the side of the trade. >> it was a dirt cheap stock if it went in the other direction. down,once it starts to go the funding start to dry up, that has been down there and the actual fundamentals have been backwards. -- upwards. perspective, what would bill ackman need to today to put herbalife in the pantheon of fraud? >> today's trading doesn't matter much. the stock is down quite a bit in the last week or so. there is a very crowded short. 35% of the float is short. they actually tell the stories from the dark side. it did not look like it at the time for a lot of people. there are a lot of defenders in that company. it was quite a stock for a while. wheres a weird business there is a lot of ac

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