Albert Edwards: Brace yourself for a bust

The next deflationary bust is looming, reckons investing guru Albert Edwards. And it will be hastened by China’s devaluation of its currency.

"When he's been right, he's been spectacularly right," as Jason Clenfield and Kevin Buckland put it on Bloomberg.com. In 1996, everyone was piling into the supposed "East Asian economic miracle". Albert Edwards, then working for Kleinwort Benson, predicted a regional blow-up. The Asian crisis started the next year.

At the same time, he said the US and Europe were in for a repeat of the Japanese experience, where the market only bottomed two decades after it peaked in 1989. This "Ice Age" theme is still playing out, he reckons, and is now entering a crucial phase. The next deflationary bust is looming, and will be hastened by China's devaluation.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.