Dr Andy Xie , renowned Chinese economist, shared his insights on how the Evergrande debt crisis could force China’s hand on reforming government, in his recent SCMP article.
He argued that an Evergrande collapse would be unlikely to bring down China’s financial system, but unresolved problems could still threaten social stability. Bloated government, dependence on land sales revenue, shadow banking and inefficient urbanisation are among the issues in need of urgent reform.
Dr Andy Xie 謝國忠 is a renowned Chinese economist based in Shanghai who has been named one of the “50 Most Influential Persons in Finance” by Bloomberg.
Andy Xie’s skill and has been tried and tested through the years. He 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. Before that, Andy spent two years with Macquarie Bank in Singapore an associate director in corporate finance and five years as an economist with the World Bank. Dr Andy Xie is currently a director of Rosetta Stone Advisors.
Dr Xie earned a PhD in economics in 1990 and an MS in civil engineering in 1987 from the Massachusetts Institute of Technology.