This is a bubble, plain and simple. Every bubble has a theory about itself and every bubble bursts. There's never been an exception.
More Quotes from Andy Xie:
In the 1990s, the state banks shoveled those deposits to inefficient state companies. The end result was a large number of nonperforming loans.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
This is the first step by China to limit commodity prices. We believe China will likely develop a comprehensive strategy to deal with commodity prices.
Andy Xie
This should not be surprising after the exceptionally strong growth of the past three years, following China's entry into the WTO,
Andy Xie
China competitiveness is generating a positive sum game in the region for now.
Andy Xie
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.
Andy Xie
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In war there is no substitute for victory.
Douglas MacArthur
Lying has a kind of respect and reverence with it. We pay a person the compliment of acknowledging his superiority whenever we lie to him.
Samuel Butler