Dr Andy Xie , renowned Chinese economist, commented that only reforms can review China’s growth…
The global economy is likely to remain weak for several years. Debt supported Western consumption for the past decade. The current crisis is as much about the future as the past. No matter how the crisis is solved, debt won’t support Western consumption anymore. Hence, China’s export downturn isn’t just cyclical and may last for several years.
~ Andy Xie
More from Andy’s article at Caixin Online
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