To restore peace to Hong Kong, big business, developers, homeowners and the taxman must all accept the pain of drastic economic reform
- High land prices, the currency peg and low taxes are flaws in Hong Kong’s deeply unfair economic system, which needs to be overhauled
- Big businesses and existing homeowners are among those who must make painful sacrifices if the city’s problems are to be solved
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.