Toggle navigation
TWunroll
TWunroll
faq
Contact US
Michael Pettis
michaelxpettis
1/7I don't have all the data yet, but I think I am a bit more skeptical about the "big spending" story than many others are. Total consumption at major retailers
Read more
1/6Just before I saw this article I was re-reading (for the second time) Glyn Davies's 1994 history of money and came across this passage:"There are few things more impressive than
Read more
1/5I wonder if they've thought through the systemic implications. Given China's disproportionate share of demand (50% or more of global production of major industrial metals, for example), to predict a
Read more
1/9While debt-to-GDP ratios already have a limited but very misunderstood use, it seems economists are finding bright new ways of misunderstanding them. Now we say that when nominal interest rates
Read more
1/3Good article that makes the point that a disproportionately low share of China's GDP goes to the Chinese people, compared with the share in other countries. It also conforms with
Read more
1/8Good article, although I think the argument as to whether or not GDP is a good measure of economic performance largely misses the point. Of course it isn't, but no
Read more
1/5For over 15 years Chinese regulators have implemented one reform after another aimed at taming the wildly speculative Chinese stock markets in an attempt to make them converge with more
Read more
1/5Yes, you are right, Matt. In hindsight we forget how terrified the US and Europe were in the late 1950s and 1960s about what seemed like a formidable Soviet technological
Read more
1/3Yes, Eugene, which is why I stress pro-cyclicality. We saw this in Japan in the 1980s. When the economy is expected to grow rapidly, the future benefits of current infrastructure
Read more
1/8For the past 2-3 years regulators have encouraged Chinese banks to issue perpetual bonds as a way of recapitalizing. The newest twist involves perpetual bonds with an equity-conversion feature, with
Read more
1/6We've been having this discussion for years with no resolution, and I would argue that resolution isn't possible without a major – and as yet unlikely – transformation of the
Read more
1/9With Covid-19 having hammered consumption and forced up household savings, the FT advises that "for longer-term recovery, a shift from consumer spending to business investment will be needed. Governments can
Read more
‹
1
2
3
4
5
6
7
›
By continuing to use the site, you are consenting to the use of cookies as explained in our
Cookie Policy
to improve your experience.
I agree