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    Michael Pettis

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    • Tuesday, 7 November, 2023
      Markets InsightChinese economy
      The global constraints to Chinese growth

      Many more years of high economic expansion are only possible if the country restructures to boost domestic consumption

      A worker operates machines at a texile factory in Nantong, in eastern China’s Jiangsu province
    • Thursday, 27 July, 2023
      Markets InsightUS economy
      Why US debt will continue to rise

      The government must eliminate downward pressure on demand by reversing policies that favour income inequality

      A pedestrian passes the Marriner S. Eccles Federal Reserve building in Washington
    • Wednesday, 7 June, 2023
      Global trade
      A (very short) history of global reserve currencies

      Keynes knew

    • Tuesday, 4 October, 2022
      Markets InsightChinese business & finance
      China’s difficult choices as export growth slows

      Trade surplus contraction must be balanced by a cut in the gap between domestic savings and investment

      Workers prepare a container at the port in Qingdao, China’s eastern Shandong province
    • Wednesday, 27 April, 2022
      Foreign exchange
      Will the renminbi depreciation actually boost Chinese growth?

      Probably not. Here’s why.

    • Wednesday, 20 April, 2022
      Global Economy
      China’s never-ending story

      The Chinese economy still needs demand-side support, not more supply-side support

    • Tuesday, 18 January, 2022
      Markets InsightChinese politics & policy
      China’s record trade gap a symptom of struggle to rebalance its economy

      Surpluses will continue as Beijing struggles to rein in burgeoning debt and increase domestic consumption

      Containers stacked at a port in Qingdao, China
    • Monday, 2 August, 2021
      Markets InsightChinese economy
      Why it might be good for China if foreign investors are wary

      Regulators should be more worried by too much buying of its stocks and bonds than by too little

      A Chinese flag and a renminbi note
    • Sunday, 22 November, 2020
      Chinese economy
      Xi’s aim to double China’s economy is a fantasy

      The idea that GDP can be twice as big in 2035 faces two significant obstacles: demography and politics

      Warehouse employees work in Hengyang, Hunan province. A declining working population requires that the pace of the decline in productivity drops by nearly two-thirds if China is to double GDP by 2035
    • Friday, 18 September, 2020
      News in-depthFT Alphaville
      Why China’s recovery is not what it seems

      Michael Pettis argues imbalances will continue to set China back unless retail sales once again begin to outpace industrial production.

    • Tuesday, 25 August, 2020
      FT AlphavilleChinese economy
      The problems with China’s “Dual Circulation” economic model

      When it comes to the future of the Chinese economy, Beijing has a difficult choice to make.

    • Thursday, 18 June, 2020
      Free LunchMartin Sandbu
      Savings gluts and investment droughts Premium content

      How global macroeconomic asymmetries reflect homespun economic problems

    • Wednesday, 27 May, 2020
      Robert Armstrong
      Business will be the loser in the US-China fight

      Both nations are indispensable, so companies face a two-track world

      web_Chinese US business wars
    • Sunday, 26 April, 2020
      China Economic Slowdown
      China’s economy can only grow with more state control not less

      Beijing’s repeated pledges to shrink the state are both empty and impossible

      Workers maintain Wuzuohe Bridge in Bijie, Guizhou province. China is massively overinvested in infrastructure
    • Monday, 13 January, 2020
      Markets InsightEquity valuation
      Fundamentals simply do not matter in China’s stock markets

      It is wrong to assume that prices reflect a genuine ‘view’ about growth prospects

      A pedestrian stands in front of an electronic ticker board and a screen displaying stock figures outside the Exchange Square complex, which houses the Hong Kong Stock Exchange, in Hong Kong, China, on Monday, Sept. 16, 2019. The Hong Kong bourse's unsolicited takeover bid for the London Stock Exchange Group Plc was greeted with a scathing rejection and the exchange suffered a further humiliation when China praised the rebuff as well. Photographer: Paul Yeung/Bloomberg
    • Sunday, 10 November, 2019
      Chinese business & finance
      Opening up to foreign capital would be a mixed blessing for China

      This would be a dangerous way of trying to fix an unstable banking system

      A pedestrian passes in front of a Baoshang Bank Co. branch in Beijing, China, on Tuesday, May 28, 2019. A Bloomberg index of Hong Kong-listed Chinese banks is set for its biggest monthly loss this year after regulators assumed control of Baoshang on Friday citing "serious" credit risks. Photographer: Giulia Marchi/Bloomberg
    • Wednesday, 11 July, 2018
      Central banks
      The 'marginal buyers' in credit are neither marginal nor buyers
      The 'marginal buyers' in credit are neither marginal nor buyers
    • Monday, 25 June, 2018
      FT AlphavilleDan McCrum
      The return of capital controls
      The return of capital controls
    • Thursday, 12 April, 2018
      FT AlphavilleGlobal trade
      Tariffs increase savings in a world already drowsy with too much savings
      Tariffs increase savings in a world already drowsy with too much savings
    • Tuesday, 6 March, 2018
      FT AlphavilleMatthew C Klein
      China’s household debt problem
    • Monday, 5 March, 2018
      FT AlphavilleDan McCrum
      Someone is wrong on the internet, accounting identity edition
      Someone is wrong on the internet, accounting identity edition
    • Tuesday, 16 January, 2018
      FT AlphavilleMatthew C Klein
      What if China stops being an optimal currency area?
    • Sunday, 19 November, 2017
      Chinese politics & policy
      China’s growth miracle has run out of steam

      Beijing must reveal the true level of GDP and wasted investment

      epa06272302 Chinese President and General Secretary of the Communist Party of China Xi Jinping delivers a speech during the opening ceremony of the 19th National Congress of the Communist Party of China (CPC) at the Great Hall of the People (GHOP) in Beijing, China, 18 October 2017. China holds the 19th Congress of the Communist Party of China (CPC), the country's most important political event where governmental plans are made for the next five years. Xi Jinping is expected to remain as the General Secretary of the Communist Party of China for another five-year term. EPA/WU HONG
    • Monday, 31 July, 2017
      FT AlphavilleGlobal trade
      Podcast: Michael Pettis on the mechanics of trade and the Chinese economy
    • Thursday, 2 June, 2016
      FT AlphavilleDavid Keohane
      Camp Alphaville homework, Pettis edition
    Previous page You are on page 1 Next page

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