Is Capitalism in crisis? At the Saint Petersburg International Economic Forum, renowned economist Andy Xie joined the panel constituted by programs presenter Peter Lavelle and guests Ronnie Goldberg, Olga Golodets, Angel Gurria, Vladimir Mau, Hans-Joerg Rudloff, and Armen Sarkissianwith, where they discussed the issue of the growing trend of wealth concentration in the world at the top percentile, and also the stagnant Western middle class that places growing demands on a burgeoning welfare state.
Note: Andy Xie’s talks start at 0:31:04 and 0:51:00.
Dr Andy Xie 謝國忠 is Shanghai-based independent economist specialising in China and Asia. He is currently director of Rosetta Stone Advisors and of China Boqi Environmental Science and Technology.
Dr Xie is one of the few economists who has accurately predicted economic bubbles including the 1997 Asian Financial Crisis and the more recent subprime meltdown in the United States. 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.