James Chanos, the legendary short seller who helped bring down Enron, has a new target: China.

While most experts say China represents the main engine of growth for the global economy, Chanos sees the nation as one big bubble.

“Bubbles are best identified by credit excesses, not valuation excesses,” he said recently on CNBC.

“And there’s no bigger credit excess than in China.”

Chanos also suspects that China’s government lies in its economic statistics, particularly when it claims economic growth in excess of 8 percent.

Some experts anticipate a reading of 13 percent for the fourth quarter.

Many experts are in agreement with Chanos about one element of China’s economy – real estate. How does Chanos view that sector? “(Like) Dubai times 1,000 — or worse,” he wrote in a report to clients.

Chanos plans to short stocks of Chinese companies that produce cement, coal, steel and iron ore, he told The New York Times.

Superstar investor Jim Rogers, one of China’s loudest supporters, takes issue with Chanos.

“I find it interesting that people who couldn’t spell China 10 years ago are now experts on China,” he told The Times. China is not in a bubble.”

But while Chanos may be bucking conventional wisdom, he’s not alone in viewing China as a bubble.

"It's a Ponzi scheme whose head is the central bank, and it can print money," Victor Shih, a China expert at Northwestern University, tells Forbes magazine.