How could the global economy crash? Let us count the ways
- Andy Xie says the stock sell-off in the US and elsewhere and the sharp decline in property prices all add up to more debt trouble at a time when debt is already sky-high. A repeat of the global financial crisis of a decade ago seems certain
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.