Michael Pettis
Senior Fellow, Carnegie Endowment. For speaking engagements, please contact me at chinfinpettis@yahoo.com
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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...
1/5 "He Wenlin (Ministry of Public Security) said the changes were designed to promote the 'free movement' of people, vehicles, information and data, and officials would strive to...
1/7 This could be risky for China: "Argentina has struck a deal with Chinaβs central bank to settle more than half of its $2.7 billion debt due this week to the IMF in yuan by tapp...
1/8 Good piece on the slowdown this year in the Chinese economy. It argues that unless Beijing is more aggressive with fiscal stimulus, it risks seeing GDP growth underperform the...
1/5 "Many companies realize how difficult it is to wean themselves off of the incredibly competitive Chinese production and logistics ecosystems." This is why, for all the talk of...
1/9 This Robin Harding article provides a very good explanation of China's problems, and identifies the major issues, but I worry about its conclusion: "Chinaβs central government...
1/4 "Several Chinese provinces have uncovered that local consumption vouchers issued in recent years were not only misused, they did little to increase spending β revelations that...
1/3 Good piece by @nate_taplin. He argues that China is facing real structural difficulties, not a temporary downturn, in which case "rhetorical support for entrepreneurs and consu...
1/9 "China has pledged to boost credit to private companies and extend other funding measures to small firms to support the economy," according to Bloomberg. "Policymakers are focu...
1/4 "Chinaβs stock market is driven by its 219 million individual investors. They accounted for around 60% of trading volumes in the country last year, compared with the less than...
1/8 For all the excitement, most of these measures don't expand consumption at all. They are designed to "encourage" consumption, by improving delivery mechanisms, creating more co...