Author : Michael Pettis

Globalisation was the buzzword for several years before the global economic crisis hit. Globalisation brought about promises of increased connectivity, growth, greater transfer of knowledge and wealth. Yet, recent...

As recently as six months ago, one didn’t discuss in polite company in Madrid the possibility that Spain would leave the euro and restructure its debt.  The prospect was...

The future of the global economy remains shrouded in mystery. Whether the crises in the United States and the eurozone will improve remains to be seen. While the latest...

China’s economy is grossly imbalanced, and for years many academics have been talking about an imminent rebalancing. For now, it is clear is that China’s rebalancing act will not...

China’s woes do not stem directly from the fact that its local governments are struggling to repay its bank loans. After all, it has been correctly argued that the...

China’s success story is one that would certainly go down the chapters of economic history. While the West firefights its debt crisis, many fail to realize that China too...