Z-Ben Advisors founder Peter Alexander said Friday it's time to strip out the emotion around China, particularly among a chorus forecasting the country's impending doom, which includes Jim Chanos and Kyle Bass.
Investors either herald China as the greatest next market or warn that it's on the verge of collapse, he said. But the reality is it's "an enormous market that has a huge amount of opportunity," he told CNBC's "Squawk Box."
Alexander said Chanos, founder of Kynikos Associates, was wrong in predicting that oversupply in the property market would take down the Chinese economy.
Alexander, who has lived in China for more than 20 years and consults global financial institutions on investing there, said Chinese property prices are up 70 percent in the aggregate since Chanos made his statement in 2010.
On Wednesday, Chanos told CNBC he remains pessimistic on China overall, saying it "is the gift that keeps on giving on the short side." He argued that China has started to re-inflate its real estate market.