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Author : Michael Pettis
About Michael Pettis PRO INVESTOR
Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management.
Stories by the author
China’s Hidden Debt Problem: An Unavoidable Crisis In The Making?
Estimates for China’s local government debts are now close to $3.3 trillion. Some analysts though believe that the government need not be duly concerned about rising bad debts in...
How China Can Rebalance Its Economy Within A Decade: Michael Pettis
China’s great rebalancing act has begun. But how successful and orderly the rebalancing process will be will depend on how realistic the government are in their growth projections. What...
On China, Are Foreigners Always Ignorant And Therefore Wrong?: Michael Pettis
There have been many cases in which foreigners were able, perhaps because they tend to be more objective, to identify risks earlier than locals. Despite the claims of the...
Can China Continue To Spend Its Way To Growth?: Michael Pettis
The slew of economic data released last week has confirmed the worst fears of many global investors: China is serious about rebalancing its economy and growth rates of 6...
Did Germany Force The Eurozone Into The Debt Crisis?: Michael Pettis
As monetary policy across the eurozone was made to fit German needs, excess German liquidity – accumulated from years of trade surpluses and policy controls – was easily...
Will Slowing Investment Drag China’s Reform Efforts?: Michael Pettis
China wants to raise its disproportionately small share of consumption as the cornerstone effort to close one of the world’s widest income gaps and quell rising discontent among those...
Will China Succeed In Its Self-Imposed Revolution?: Michael Pettis
In a system in which almost all the growth is driven by increases in investment, and in which an increasing share of investment is being wasted on factories, bridges,...
Central Banks Cannot Fix Europe’s Solvency Crisis: Michael Pettis
Except for lower debt refinancing costs, the fundamentals of peripheral eurozone economies have not improved in the last six months. At best they are unchanged, but they are probably...
Global Rebalancing for Sustainable Growth: Michael Pettis
In 2012, we saw the end of what some call the first stage of the global financial crisis. Most of the deepest problems have been identified and market...
Trillions of Dollars Missing from China’s Economy: Michael Pettis
Economic history suggests that most countries fail in the reform and adjustment process precisely because the sectors of the economy, not to mention individuals, that have benefitted from the...