对冲基金大佬、曾在2008年金融危机中沽空次贷而名声大噪的Kyle Bass接受外国传媒访问时表示，现时全世界都关注股市，然而，中国的真正危机在于银行系统。
他说：“若投资者只关注A股升定跌，就会忽略了中国真正的问题在于银行贷款。中国银行业资产由2007年至今增长了4倍，达31万亿美元，相对国内生产总值10万亿美元。当银行业过度地增长，损失增加是理所当然的，只要中国银行业资产损失10%，已是3万亿美元。不要忘记，中国的外汇储备仅3.6万亿美元，若要挽救银行业，可以一下子耗尽外储。”
所以他忧虑中国情况会拖累新兴市场，从而影响美国。他明言，中国让人民币贬值只是开始!
[附錄]
Hayman Capital's Bass: China's real problem is its banking sector
Everett Rosenfeld | @Ev_Rosenfeld
While many are watching its stock market, China's real problem may lie with its banking system, according to one hedge fund manager.
Kyle Bass, Hayman Capital Management founder and managing partner, told CNBC's "Squawk on the Street" on Tuesday that Chinese banks will likely experience losses that may affect the country as a whole.
"Those that are watching whether Chinese stocks go up or down aren't paying attention, in my opinion, to what the real problem is," Bass said. "And the real problem is the loans in this banking sector."
The hedge fund manager said that Chinese bank assets rose about 400 percent since 2007, and are now about $31 trillion against an economy with a gross domestic product of $10 trillion.
"When you run a bank expansion that aggressively, that quickly, you're going to have some losses," he said, adding that "the scary thing about that" is a "likely" 10 percent asset loss in that banking sector would amount to $3 trillion.
Such losses would force China to use much of its foreign exchange reserves (which stand at about $3.6 trillion) and sell bonds to recapitalize the banking system, he said.
Bass said these issues are mirrored in many emerging markets—especially those in Asia—and could therefore ultimately affect global GDP.
While the ripples of an emerging market downturn could draw U.S. GDP lower than estimated, countries like South Africa could be seriously impacted.
Bass said his investment group is closing watching nations that run twin deficits, and those that may have to devalue their currency "in order to come back to some level of competitiveness with the rest of the world."
As the loan cycle forces emerging market banks to see steep losses, "the next two years are going to be tough," he said.
"We talk about this race to the bottom and this currency war. Well it's happening as we speak," he said. "China literally just started with its devaluation process—wait until you see where that goes."
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