Bill Ackman says China’s stock market is more ‘frightening’ than Greece and even the U.S. in 2007

Ackman said he\'s worried about China\'s lack of transparency and questioned the reliability of its economic statistics.

Bill Ackman, the billionaire hedge fund manager who runs Pershing Square Capital Management, said China is really a far bigger concern to markets than Greece which the country’s stock market scares him.

“China is a bigger global threat undoubtedly,” Ackman said Wednesday at the CNBC Institutional Investor Delivering Alpha Conference in New York. “The Chinese stock exchange is a fairly remarkable phenomenon and I think kind of a frightening one.”