The purported text of Andy Xie’s leaked e-mail:

I participated in the panels on Commodity (sic) and China-India and in
some obligatory dinner parties. On Friday night the Singapore prime minister
invited the speakers at the meeting that the Singapore government organised.
Trichet, Larry Summers, Paul Volker (sic) Chuck Price, the finance ministers of
ASEAN countries were there. No government official from China was there …guess I
was there to make it look like China was represented.

The dinner was turned into an Oprah with PM Lee Hsein Long (sic) at the
center. The topic was on the future of globalization. People fawned him like a
prince. Of course, he is. There are two reigning princes in the world that the
Davos crowd kiss up to, Jordan and Singapore. The Davos crowd are Republican on
economic issues and democratic on social issues. Somehow they manage to put
aside their moral misgivings and kiss up to Lee Hsein Long and Abdullah.

I tried to find out why Singapore was chosen to host the conference. Nobody
knew. Some thought it was a strange choice because Singapore was so far from any
action or the hot topic of China and India. Mumbai or Shanghai would have been a
lot more appropriate. ASEAN has been a failure. Its GDP in nominal dollar terms
has not changed for 10 years. Singapore’s per capita income has not changed
either at $25,000. China’s GDP in dollar terms has tripled during the same
period.

I thought the questioners were competing with each other to praise
Singapore as the success story of globalisation. Actually, Singapore’s success
came mainly from being the money laundering center for corrupt Indonesian
businessmen and government officials. Indonesia has no money. So Singapore isn’t
doing well. To sustain its economy, Singapore is building casinos to attract
corrupt money from China.

These western people didn’t know what they were talking about. Aside
from the nauseating pleasantries some useful information came out of it. Trichet
sounded very bullish on euro-zone economy (sic). He noted that euro-zone was
catching up with the US in growth rate (sic) and talked about further gain in
2007. His tone was much more bullish than our house view. As Japan is surprising
on the downside, I don’t see how the rise of euro-yen could be stopped.

Larry Summers and Paul Volker (sic) were very worried about the US economy.
As you probably know, Alan Greenspan is talking the same way. At the CLSA
conference last week, he talked like one of his critics. There is fear of a US
collapse.

Many Americans think that an RMB reval (sic) would save the US. This is
just a dream, in my view.Most were worried about the future of globalisation due
to income inequality. As average workers in the west are not seeing wage
increase (sic), they may vote against globalisation. I thought that they were
understating the benefit from cheap consumer goods. However, as inflation comes
back, it does diminish the benefits for western consumers.

No-one was worried about the growth outlook for China and India. The Indian
Planning Minister was very bullish, talking about 9% forever.

My sense is that policymakers are relexed (sic) about the short-term
economic outlook but anticipate a US collapse at some point. Americans think
that RMB reval could save the US. So they would keep pressuring China.”

Andy Xie
Morgan Stanley

Someone please kindly advise this bimbo here, what exactly is so inflammatory about this email that it would warrant a termination from his employer?? Anyone??

And I thought the primary job scope of a analyst would be just that. To analyse market trends and movements.

Apparently I may be wrong.