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

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Why Higher U.S. Savings Won’t Save The Pandemic-Hit Economy
If the U.S. government does not decisively increase spending, higher American household savings will force either American debt or unemployment to rise even more.
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EC Why It Won’t Matter Who Pays For Trade Protection
The debate about whether it is U.S. consumers or Chinese businesses that pay for American tariffs on Chinese-produced goods reveals absolutely nothing about whether the tariffs harm or benefit the U.S. economy.
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EC MMT Heaven And MMT Hell For Chinese Investment And U.S. Fiscal Spending
There are conditions under which governments can create money—or debt—without fear of inflation or excessive debt burdens. There are other conditions that can lead to inflation and balance sheet problems.
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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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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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