Some sober thoughts from Andy Xie in this clip about why policy ‘interventions’ in China are misguided and compounding economic problems. On a broader level, the observations extend to the many countries where central banks and governments have been wasting good money after bad in propping up asset bubbles the past 6 years: “the people who are doing these interventions do not understand market economics”.
Andy Xie, an indpependent economist, talks about why Caixin China Manufacturing PMI missed estimates–contracting to 47 in September, for the lowest level since March 2009– with Bloomberg’s Yvonne Man on “Trending Business.” Here is a direct video link.
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