Illustration: Craig Stephens

Hype of China technology stocks risks a replay of the 2000 US dotcom crash

Andy Xie says with so much money from both government and retail investors already sunk into a business that relies more on false hope than sound fundamentals, the pain of a crash will be severe. Can it be avoided?

Topic |   China technology

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Illustration: Craig Stephens
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Andy Xie

Andy Xie

Dr Andy Xie is a Shanghai-based independent economist specialising in China and Asia, and writes, speaks and consults on global economics and financial markets. He joined Morgan Stanley in 1997 and was managing director and head of the firm’s Asia-Pacific economics team until 2006. Prior to that he spent two years with Macquarie Bank in Singapore, where he was an associate director in corporate finance. He also spent five years as an economist with the World Bank. He was voted one of the 50 most influential persons in finance by Bloomberg magazine in 2013.