China’s economic model is ‘washed up on the beach’ and it’s not going to bounce back, veteran investor says

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Lintao Zhang/Getty Veteran investor David Roche told CNBC that China's economic model is "washed up on the beach." He doesn't anticipate it to bounce back as it deals with deflation, slowing growth, and other economic snags. He noted that China's economy has a "huge number of legacy holes in it." China's economy is facing a slate of obstacles ranging from a housing market slump to faltering trade, and veteran investor David Roche says the country's economic model won't be able to bounce back. "The Chinese model is clearly washed up on the beach with a huge number of legacy holes...