China plays its Morgan card

Andyxie

Andy Xie. Economist
Courtesy of ICBI

Picked up this comment in the Washington Post:

Andy Xie, an independent economist who was formerly Morgan Stanley‘s
chief Asia economist, said the United States needs to accept that a
large amount of U.S. assets must be transferred to other countries’
ownership. "If the U.S. is not willing to accept that," Xie said, "they
will have to print money and the dollar will fall. And we will be
headed toward a global financial meltdown."

Quite startling, if you ask me, Andy has a point there.

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