Michael Pettis
Senior Fellow, Carnegie Endowment. For speaking engagements, please contact me at chinfinpettis@yahoo.com
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1/7 EU trade commissioner Valdis Dombrovskis: βThe China-EU trading relationship is very unbalanced. China is running a huge trade surplus. And the level of openness from the Chine...
1/3 Interesting article. It is becoming increasingly clear that the Chinese economy is splitting up into two very different parts, the 6-7 wealthier provinces and municipalities, w...
1/4 Renmin University's Liu Xiaoguang on Beijing's debt management, notes that "Local governments, as well as enterprises and households, are shifting focus to repairing balance sh...
1/10 I confess I have limited knowledge of the Indian economy, but with that caveat, I suspect @AshokaMody may be right in this article. To see why, it is important to understand h...
1/7 The reason developing countries should borrow in their own currencies, and preferably over longer terms, is not because doing so will eliminate the risk of debt crises, vulnera...
1/4 "Chinese policymakers have reiterated their vow to lower mortgage rates and implement new structural monetary tools when necessary, in yet another assurance aimed at highlighti...
1/14 Interesting IMF Working Paper on the evolution in China's fiscal policy and its impact on government debt and balance sheets. It has great information, especially historical d...
1/5 For those who think that China's rapid development in the 1990s and 2000s was driven mainly by the unleashing of the private sector, and not by active government intervention,...
1/7 There is a lot of confusion over how to resolve local-government debt. Some analysts, for example, are arguing that "as the demand for financing has increased, it is imperative...
1/15 While Adam Posen correctly recognizes the problems the Chinese economy currently faces, his explanation of what has gone wrong, and what Beijing must do to revive the economy...
1/6 When Beijing seems determined to force up the stock market, investors usually see that as a signal to buy, and their decisions become self-reinforcing as purchases can cause ma...
1/6 "Companies have joined the scramble [into long-term CDs], adding to the drag on China's economy as it effectively means both businesses and households are hoarding cash rather...