Dr Andy Xie, renowned independent economist, said for CNBC News that April’s sales tax hike and a pending corporate tax cut are not the right solutions for Japan as they do not tackle the real concern surrounding productivity.
Watch the video here…
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.