“To burst this bubble Chinese currency has to go up. Unless China appreciates its currency other East Asian currencies will not go up.”Managing economy with financial markets is not sustainable, Xie said. “It will give you some growth but that will be for a short while and would not be big enough,” he said. The S&P 500 did something similar in 2000 and 2007.On the recent stock market downturn, Xie had earlier said that the real collapse would be much worse. “The current stock market bubble is much greater than on those three occasions.

Source: Economic Times February 25, 2018 17:48 UTC