Andy Xie

Andy Xie

Dr Andy Xie is a Shanghai-based independent economist specialising in China and Asia, and writes, speaks and consults on global economics and financial markets. He joined Morgan Stanley in 1997 and wa

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Saving Hong Kong: Start by ending collusion with tycoons
Hong Kong must reform its economic policy to restore social calm. While political issues are important and should be addressed, economics is critical to any lasting peace. The essence of Hong Kong’s current economic policy, which is billed as a laissez-faire nirvana, is a regressive tax in the form of high land prices. It strangles the middle class. When economic growth is fast, it obscures the negative impact of the policy. But prolonged slow growth exposes the corrosive effect the policy has on wealth equality and labor income. As young people’s aspirations are extinguished, a social explosion is inevitable. Chief Executive Carrie Lam’s policy address, while delivered under difficult circu
Saving Hong Kong: Start by ending collusion with tycoons