Commentary
Michael Pettis
{
"authors": [
"Michael Pettis"
],
"type": "legacyinthemedia",
"centerAffiliationAll": "dc",
"centers": [
"Carnegie Endowment for International Peace"
],
"collections": [
"Economic Risk in Asia"
],
"englishNewsletterAll": "asia",
"nonEnglishNewsletterAll": "",
"primaryCenter": "Carnegie Endowment for International Peace",
"programAffiliation": "AP",
"programs": [
"Asia"
],
"projects": [],
"regions": [
"North America",
"United States",
"South America",
"South Asia",
"India",
"East Asia",
"China",
"Russia"
],
"topics": [
"Economy",
"Foreign Policy"
]
}
REQUIRED IMAGE
In The Media
The High Price of Dollar Dominance
The answer to Lula’s question of who designated the U.S. dollar the global reserve currency is ironic: it was surplus countries such as Brazil and China. And despite what their leaders might say, none of them are in a hurry to upend the current system.
Published on Jun 30, 2023
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.
- Is China’s High-Quality Investment Output Economically Viable?
- What GDP Means in a Soft Budget Economy Like ChinaCommentary
Michael Pettis
Recent Work
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
- Managing Montreux: Turkey and the Russia-Ukraine War in the Black SeaArticle
For ninety years, Turkey has been positioned as the principal gatekeeper of Black Sea security. As a result, European and NATO efforts to support Ukraine will require closer engagement with Ankara.
Thomas de Waal
- Geopolitical Europe Needs Air-ConditioningCommentary
Western Europe’s dual-use infrastructure melted down during its latest heat wave. If a predicted hot weather event can take the continent by surprise, what chance does it have to withstand unexpected geopolitical crises?
Rym Momtaz
- The Trump-Shaped Hole in the European Security StrategyCommentary
There is an elephant in the room when it comes to the EU’s upcoming security strategy: Donald Trump. Unless European leaders acknowledge the depth of the transatlantic crisis, true autonomy will remain out of reach.
Stefan Lehne
- A Grand Strategy for Europe’s Clean Industrial FuturePaper
Europe’s industrial supply chains leave it vulnerable to global shocks. The EU needs a pragmatic green industrial strategy that balances durable partnerships and bolsters homegrown clean tech without sacrificing low-carbon ambition.
Milo McBride, Pauline Gerard
- Europe Needs a Strategy for Its Turn to New Defense TechCommentary
Defense tech innovations will be at the heart of Europe’s new security strategy. But so far, Brussels has been making moves without a broader plan, undermining readiness and credibility.
Raluca Csernatoni
