Cautious Optimism About China

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In The Media

Cautious Optimism About China

China's new political leadership knows that economic reform is necessary, but has difficulty gathering the political will to enact such reforms.

By Michael Pettis

Published on Nov 13, 2012

Source: CNBC's Worldwide Exchange

Speaking on CNBC's Worldwide Exchange, Carnegie's Michael Pettis noted that he believes China's new leardership understands the urgency of implementing economic reforms. However, he explained that he is only cautiously optimistic that reforms will actually be enforced, given that the groups who have benefitted from China's investment-driven miracle are unwillingly to see adjustments to China's economy.

About the Author

Michael Pettis

Nonresident Senior Fellow, Carnegie China

Michael Pettis is a nonresident senior fellow at the Carnegie Endowment for International Peace. An expert on China’s economy, Pettis is professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets.

Recent Work

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Using China’s Central Government Balance Sheet to “Clean up” Local Government Debt Is a Bad Idea
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Economy East Asia China

Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.

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