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This Hedge Fund Investor Says China Bears Are Missing Something

(Bloomberg) One hedge fund investor says Kyle Bass, Jim Chanos and other China bears are missing a key piece of the equation. Global investors have underestimated the power of China’s command economy, where leaders can cancel or forgive debts and control the currency, Mark Yusko, chief investment officer of Morgan Creek Capital Management, said in an interview. China’s unique ability to control its market ensured that predictions of a yuan crash, a debt crisis and an economic hard landing didn’t play out, said Yusko, whose Chapel Hill, North Carolina-based firm manages about $2.5 billion in private investments and hedge funds.

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