Michael Pettis | TalkMarkets | Page 1

Michael Pettis

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 University’s ...more
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How China Would Respond To Lower Exports
Thursday, October 6, 2022 3:30 PM EDT
China’s large structural trade surpluses are the consequence of internal economic imbalances, which means that any external pressure that results in a contraction of its trade surplus must be accommodated by shifts in these internal imbalances.
In this article: GXC
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What’s In Store For China’s Mortgage Market?
Saturday, August 13, 2022 9:05 AM EDT
The Chinese economy has been wracked by rural bank defaults and boycotts over mortgage payments. First, I will explain these events and what they reveal about the health of Chinese markets.
In this article: MCHI
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The Only Five Paths China’s Economy Can Follow - Part II
Saturday, April 30, 2022 7:57 PM EDT
Aside from the economy’s current path, there are only four other paths China can follow, each with its own requirements and constraints. Part 2 of 2.
In this article: MCHI
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The Only Five Paths China’s Economy Can Follow - Part I
Saturday, April 30, 2022 10:02 AM EDT
There is increasingly a consensus in Beijing that China’s excessive reliance on surging debt in recent years has made the country’s growth model unsustainable.
In this article: MCHI
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Changing The Top Global Currency Means Changing The Patterns Of Global Trade
Tuesday, April 12, 2022 10:57 PM EDT
Giving up the use of the U.S. dollar for global trade and reserve accumulation would be very difficult for U.S. adversaries and would require major economic adjustments.
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How Does Excessive Debt Hurt An Economy?
Tuesday, February 8, 2022 9:22 PM EDT
Most economists have trouble understanding why too much debt may harm an economy, let alone how much debt counts as too much.
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Will China’s Common Prosperity Upgrade Dual Circulation?
Saturday, October 16, 2021 10:05 AM EDT
Chinese leaders know that they want to discontinue the country’s existing growth model, but they haven’t yet landed on what the sustainable alternatives are.
In this article: MCHI, CNYA
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What Does Evergrande Meltdown Mean For China?
Tuesday, September 21, 2021 8:06 AM EDT
The impact of Evergrande has caused financial distress to spread faster and more forcefully than Beijing’s financial regulators expected, putting pressure on them to move quickly to stop the contagion.
In this article: EGRNY, EGRNF
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Why The Bezzle Matters To The Economy
Tuesday, August 24, 2021 8:35 AM EDT
The bezzle, a word coined in the 1950s by a Canadian-American economist, is the temporary gap between the perceived value of a portfolio of assets and its long-term economic value.
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How Trump’s Tariffs Really Affected The U.S. Job Market
Thursday, January 28, 2021 8:11 PM EDT
A recent study on U.S.-China trade concludes that Trump’s trade policies cost the U.S. economy nearly a quarter-million jobs. But its obsolete understanding of trade flows ends up pointing trade policymakers in the wrong direction.
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Foreign Saving Gluts And American Financial Imbalances
Tuesday, December 1, 2020 7:33 PM EDT
The idea that trade imbalances are more likely to be the result of credit imbalances than of savings imbalances ignores the role of savings imbalances in creating credit imbalances.
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Why Foreign Debt Forgiveness Would Cost Americans Very Little
Monday, October 19, 2020 9:03 PM EDT
In today’s environment, sovereign debt forgiveness mainly represents a transfer within the creditor country. It benefits farmers and manufacturers in the creditor country at the expense of the country’s nonproductive savers.
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Why Does It Matter If Interest Rates Are Below The GDP Growth Rate?
Tuesday, September 1, 2020 6:12 AM EDT
There is a widespread belief that a country’s national debt burden is sustainable if the interest rate on its debt is less than its expected GDP growth rate.
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China’s Economy Needs Institutional Reform Rather Than Additional Capital Deepening
Sunday, July 26, 2020 7:10 AM EDT
It is a mistake to assume that there is a global capital and technology frontier toward which every country must strive to acquire development. Economic development requires, above all, the right set of formal and informal institutions.
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Why Higher U.S. Savings Won’t Save The Pandemic-Hit Economy
Thursday, May 21, 2020 2:22 PM EDT
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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Why It Won’t Matter Who Pays For Trade Protection
Tuesday, December 17, 2019 2:00 PM EDT
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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1 to 16 of 54 Posts
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