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...“If you have a 5 per cent target, there’s only two ways you can hit it: investment and consumption,” said Michael Pettis, a Beijing-based China economy specialist at the Carnegie Endowment....
Policymakers on either side of bitter trade dispute seem to confuse two issues
...Michael Pettis, a finance professor at Peking University and senior fellow at Carnegie China, said deposit insurance would be less effective in a situation where bad loans were spread across the financial...
...Michael Pettis is a senior fellow at the Carnegie Endowment and teaches finance at Peking University....
Many more years of high economic expansion are only possible if the country restructures to boost domestic consumption
...“They are locked into this system,” Pettis says....
...Exports were meant to maximise the value of imports — not, as Pettis puts it, “externalise the consequences of suppressed domestic demand”....
...However, does the world and the environment have the capacity to absorb the kind of consumption Pettis implies?...
The government must eliminate downward pressure on demand by reversing policies that favour income inequality
...Investment in property and infrastructure had been significant sources of economic expansion, Pettis said. “So the question is: where is growth going to come from?”...
...Michael Pettis is a senior fellow at the Carnegie-China centre The US dollar, analysts often propose, is the latest in a 600-year history of global reserve currencies....
...But Pettis says Beijing’s attempts to address its “two big problem areas” should ultimately be positive for China....
...As economist Michael Pettis has written, when everyone subsidises manufacturing all at once, trade wars and currency wars ensue. Another Trump presidency would put this on steroids....
...Liu and especially Pettis both offer more “structuralist” analyses that place the root causes in an economic and institutional structure that outgrew its usefulness one or two decades ago and failed to renew...
...One good read The Pettis-Foroohar-Baldwin-diPippo-Setser globalisation debate as summed up by Sankaran....
...As Michael Pettis, the well-known China watcher, wrote on Friday: Although so far Beijing has been extremely reluctant to do so, there seems to be a rising consensus among Chinese economists and economic...
...In other words, as Michael Pettis of Peking University’s Guanghua School of Management has frequently argued, China’s savings are in large part a distributional issue....
...As Peking University professor Michael Pettis has written, that maths doesn’t work when other regions like the EU and the US want to produce more locally (as I think they rightly should as part of geographic...
...order (BBG $) — Matt Bruenig on used car prices — Matt Stoller thread on Microsoft/Activision (Twitter) — A thirsty new Tesla factory comes to a parched corner of Mexico (Rest of World) — Interesting Pettis...
...This, as I understand it, is one upshot of the work of people such as Atif Mian, Ludwig Straub and Amir Sufi; and Michael Pettis and Matthew Klein....
...Michael Pettis, a senior fellow with the Carnegie Endowment for International Peace think-tank, said there was increasing “recognition” among Chinese economists and government advisers that Beijing needed...
...Michael Pettis (“Why US debt will continue to rise”, Markets Insight, July 27), arguing that rising American debt is a structural problem, describes a mechanism where the US cannot export its excess production...
...“Chinese growth is not very labour-intensive,” Pettis said. Chinese policymakers’ instinct is to invest in infrastructure, manufacturing and property to pump up growth....
...— The Post Office scandal (Nick Wallace) — Drought and debt in Argentina (Exante Data) — A Pettis thread on China’s asset management companies (Twitter) — Ancient Greek terms that should make a comeback...
...That makes for an uncomfortable truth — not every country can grow its manufacturing sector at the same time (see economist Michael Pettis on this topic in the FT....
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