Luck may be the only thing standing between the coronavirus and a US stock market crash
- The slowdown in Chinese manufacturing and ripple effect on global supply chains will hit the global economy hard, even if a recession can be avoided
- If the outbreak cannot be contained by summer, a crash worse than the 2008 crisis awaits America’s inflated asset markets
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.