Michael Pettis
Senior Fellow, Carnegie Endowment. For speaking engagements, please contact me at chinfinpettis@yahoo.com
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1/6 I'm not sure why Chinese officials continue to be so eager to encourage FDI into China. Unlike in the 1990s, China doesn't really need the foreign capital as it is now a major...
1/9 "By now itโs obvious that the countryโs economic problems are rooted in politics. Restoring confidence would require systemic changes that offer real protection of the entrepre...
1/2 "China unveiled plans on Friday to boost the consumption of automobile and electronic products, as part of package measures to promote a sustained recovery in consumption and c...
1/5 Good article. More and more analysts, both inside and outside China, are starting to recognize what has been the case for years: "Hereโs where China could turn Japanese. If the...
1/2 "The yields on Chinaโs 15- and 20-year government bonds tumbled to the lowest since 2002 this week", reflecting expectations that Beijing "will refrain from delivering strong s...
1/4 The document discussing China's latest guidance to drive the development of the private sector "encourages entrepreneurs to look to the 'Jinjiang experience' to actively explor...
1/2 "While the document was full of praise, support and reforms to bolster the private sector, it also made clear the party would remain closely involved in business. It included c...
1/9 Xinhua thinks "de-risking" undermines global trade, and cites the IMF's chief economist as saying that "'de-risking' could see countries turn inward at the expense of global gr...
1/4 Another good entry in Exante's "important economist" series โ this time the great Hyman Minsky. I'd argue that his most important contribution was not so much his "financial in...
1/6 "Despite the gloom, most analysts expect the economy to grow above 5 per cent this year, which means China will still drive the global economy as the US and eurozone economies...
1/5 We're hearing this almost every day now: "Well-targeted policy steps are needed to keep the tasks of boosting domestic demand and shoring up consumption high on China's work ag...
1/5 "A growing number of LGFVs are struggling to service the interest payments on their mounting debts. Consequently, they have turned to unscrupulous private fund managers, who ca...