How yuan devaluation inflates China’s liquidity bubble and kicks structural reform down the road
Andy Xie says the trade war is an opportunity for China to make long-overdue economic changes, such as tax cuts, rather than resorting to pumping in liquidity yet again
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.