Cautious Optimism About China

{
  "authors": [
    "Michael Pettis"
  ],
  "type": "legacyinthemedia",
  "centerAffiliationAll": "dc",
  "centers": [
    "Carnegie Endowment for International Peace"
  ],
  "collections": [],
  "englishNewsletterAll": "asia",
  "nonEnglishNewsletterAll": "",
  "primaryCenter": "Carnegie Endowment for International Peace",
  "programAffiliation": "AP",
  "programs": [
    "Asia"
  ],
  "projects": [],
  "regions": [
    "East Asia",
    "China"
  ],
  "topics": [
    "Economy"
  ]
}

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

Commentary
Is China’s High-Quality Investment Output Economically Viable?
- Michael Pettis
Commentary
What GDP Means in a Soft Budget Economy Like China
- Michael Pettis

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.

More Work from Carnegie Europe

Commentary
Strategic Europe
Europe Should Not Let Nuclear Nonproliferation Die
Amid uncertainty caused by the Iran war, the global drive for nonproliferation has stalled. With Europe diplomatically marginalized and countries reassessing their nuclear options, efforts to curb the spread of nuclear weapons risk becoming irrelevant.
Jane Darby Menton
Commentary
Can Europe Compete with the United States and China?
Between the United States’ market-driven approach and China's state-led industrial strategy, Europe is reckoning with how it can remain competitive in the global economy. But is Europe in danger of becoming a U.S. or China colony?
Noah Barkin, Anu Bradford
Article
Rewiring the South Caucasus: TRIPP and the New Geopolitics of Connectivity
The U.S.-sponsored TRIPP deal is driving the Armenia-Azerbaijan peace process forward. But foreign and domestic hurdles remain before connectivity and economic interdependence can open up the South Caucasus.
Thomas de Waal, Areg Kochinyan, Zaur Shiriyev
Research
Planetary vs International Security: Economic Growth at the Crossroads
Economic growth is at the heart of a dilemma between planetary and international security.
Olivia Lazard
Commentary
Strategic Europe
Europe and the Arab Gulf Must Come Together
The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.
Rym Momtaz

More Work from Carnegie Europe

Commentary

Strategic Europe

Europe Should Not Let Nuclear Nonproliferation Die

Amid uncertainty caused by the Iran war, the global drive for nonproliferation has stalled. With Europe diplomatically marginalized and countries reassessing their nuclear options, efforts to curb the spread of nuclear weapons risk becoming irrelevant.

Jane Darby Menton

Commentary

Can Europe Compete with the United States and China?

Between the United States’ market-driven approach and China's state-led industrial strategy, Europe is reckoning with how it can remain competitive in the global economy. But is Europe in danger of becoming a U.S. or China colony?

Noah Barkin, Anu Bradford

Article

Rewiring the South Caucasus: TRIPP and the New Geopolitics of Connectivity

The U.S.-sponsored TRIPP deal is driving the Armenia-Azerbaijan peace process forward. But foreign and domestic hurdles remain before connectivity and economic interdependence can open up the South Caucasus.

Thomas de Waal, Areg Kochinyan, Zaur Shiriyev

Research

Planetary vs International Security: Economic Growth at the Crossroads

Economic growth is at the heart of a dilemma between planetary and international security.

Olivia Lazard

Commentary

Strategic Europe

Europe and the Arab Gulf Must Come Together

The war in Iran proves the United States is now a destabilizing actor for Europe and the Arab Gulf. From protect their economies and energy supplies to safeguarding their territorial integrity, both regions have much to gain from forming a new kind of partnership together.

Rym Momtaz