Andy Xie, renowned economist, stated that living standards of people around the world is worsening due to what is happening in finance. Bubble will burst, only slower than the previous financial crisis, due to the emergency of the global companies that can shift production anywhere in the world, and therefore making inflation not so obvious.
Detailed insight at Caixin: http://english.caixin.com/2014-04-22/100669023.html
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.