Mpettis - mpettis.com - Michael Pettis' CHINA FINANCIAL MARKETS
General Information:
Latest News:
The urbanization fallacy 16 Aug 2013 | 06:12 pm
The latest default bull argument supporting higher levels of growth in China than I believe possible is the urbanization argument. Beijing is planning another major urbanization push, and according to...
The changing debate over China’s economy 7 Aug 2013 | 02:54 pm
Once again I apologize for taking so long to repair my blog, but it hasn’t been easy. We are slowly fixing up the mess on my website. There will be a link on the site directing interested readers to t...
Rebuilding the blog…. 31 Jul 2013 | 06:32 pm
Unfortunately, our blog was hacked – AGAIN!! We are in the process of rebuilding it, and beefing up security in the process. I guess the silver lining is that it happened during ‘summer break’. Wil...
Beijing’s new leaders are right to hold back 10 Jul 2013 | 02:39 pm
The world is struggling to rebalance its great savings imbalances and is not advancing much. In Europe, and as I discussed in my very long May 11 blog entry, it seems that Germany is still unable to f...
How much investment is optimal? 10 Jun 2013 | 02:31 pm
In the May 10 issue of my blog I referred to a very interesting IMF paper written by Il Houng Lee, Murtaza Syed, and Liu Xueyan. The study, “China’s Path to Consumer-Based Growth: Reorienting Investme...
Excess German savings, not thrift, caused the European crisis 21 May 2013 | 05:15 pm
One of the reasons that it is been so hard for a lot of analysts, even trained economists, to understand the imbalances that were at the root of the current crisis is that we too easily confuse nation...
Investment and consumption 10 May 2013 | 06:48 pm
I have been arguing for several years that once China begins the adjustment process, which I expect to characterize the ten-year period of the current administration, growth rates must slow significan...
Feedback loops 29 Apr 2013 | 05:05 pm
Early this month Martin Wolf had another of his very interesting articles, this time on China, which I think suggests some of the concerns we must have about the upcoming adjustment. Wolf argues that ...
The challenges for China’s new leadership 11 Apr 2013 | 04:21 pm
The 2013 NPC and CPPCC Annual Sessions have ended with the formal selection of China’s new leaders. Not surprisingly there were few surprises. My quick take is that the leadership is saying all the ri...
When do we call it a solvency crisis? 21 Mar 2013 | 05:07 pm
This post is extracted from my newsletter sent out four weeks ago, at a time when the mood in Europe was much better than now and when there was even a sense that the crisis was in the process of bein...
