Professor at Peking University
Contributor's Links: China Financial Markets

Michael Pettis is a professor at Peking University's Guanghua School of Management, where he specializes in Chinese financial markets. He has also taught, from 2002 to 2004, at Tsinghua University’s School of Economics and Management and, from 1992 to 2001, at Columbia ... more

ALL CONTRIBUTIONS

Washington Should Tax Capital Inflows
Taxing capital inflows is a far better way to balance trade than imposing tariffs. This would address the root causes of trade imbalances, improve the productive investment process, and shift most of the adjustment costs onto banks and speculators.
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Facebook’s Libra: Does The World Need Frictionless Money?
Facebook seems to think its new digital currency Libra will be used mainly for purchasing goods and services and for current account transactions. But it will probably be used mainly for capital account transactions.
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Wealth Should Trickle Up, Not Down
Income inequality in the United States hampers growth and forces up debt. In advanced economies in which investment is not constrained by scarce savings, high levels of income inequality lead automatically to either more unemployment or more debt.
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Does The UK Benefit From Chinese Investment?
While foreign investment usually benefits developing economies and creates local economic benefits in advanced economies, it generally does not benefit advanced economies on the whole except in very limited cases.
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EC China Cannot Weaponize Its U.S. Treasury Bonds
A number of recent articles suggest that Chinese officials may reduce their purchases of U.S. government bonds. It is very unlikely that China can do so in any meaningful way because doing so would almost certainly be costly for Beijing.
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Should The United States Run A Trade Surplus?
Although standard trade theory predicts that highly advanced economies with sophisticated financial sectors, like the US, should generally run trade surpluses, the country has run persistent, and often large, trade deficits for five decades.
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STOCKS I FOLLOW

AUSE Wisdomtree Trust
CNY Market Vectors-Renminbi/USD ETN
CYB WisdomTree Dreyfus Chinese Yuan Fund
DFJ WisdomTree Japan SmallCap Fund
DXJ WisdomTree Japan Total Dividend Fund
EDC Emerging Markets Bull 3x Shares
EEM iShares MSCI Emerging Markets Index
EUO ProShares UltraShort Euro
EWA iShares MSCI Australia Index Fund
EWJ iShares MSCI Japan Index Fund
FCA First Trust Exchange-Traded AlphaDEX Fund 2
FXE Euro Currency Trust
FXI iShares China Large-Cap
GXC SPDR S&P China ETF
IEV iShares Europe
PGJ PowerShares Gldn Dragon Halter USX China
SLX Market Vectors Steel Index Fund
SPY SPDR S&P 500
VGK VANGUARD EUROPEAN ETF
VWO Vanguard FTSE Emerging Markets ETF
YINN Direxion Daily China 3x Bear
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