Growth rates could decelerate by another 1 percentage point due to further rises in oil prices.
More Quotes from Andy Xie:
About two-thirds of the country's earnings are obtained from government investment and exports, which won't reach the common people.Andy Xie
The financial sector may have become dependent on the trading profits from oil. As evidence accumulates over weakening demand and strong supply, I believe oil prices could collapse,
Andy Xie
There was a delicate balance in consumer confidence. It's tipped over.
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China has built up massive capacity for processing commodities. The sunk cost inside China has made it more vulnerable to price squeezing pressure in the commodity market.
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The Chinese economy has started to slow due to excess capacity. The rapid investment-led boom of the last five years has borrowed growth from the future.
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In the 1990s, the state banks shoveled those deposits to inefficient state companies. The end result was a large number of nonperforming loans.
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