Boiling Germans like frogs in a wok: Andy Xie
Debt in Europe is a symptom of unsupportable living standards, meaning parts of Europe will revert to developing-market status, says economist Andy Xie.
Looking at challenges from ‘Grexit’ fears, slowdowns in China and political gridlock in the US, investors and businesspeople naturally want a solution. But there is no solution, just a long slog that, for parts of the eurozone, will see them leave the family of developed markets.
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