Boiling Germans like frogs in a wok: 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. For independent economist Andy Xie, the current debate in Europe between growth and austerity is meaningless. “Debt is a symptom, a way of covering up problems,” as opposed to the problem itself, so polic…