Commentary
Michael Pettis
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Source: Getty
In The Media
The Need for Slower Chinese Growth
The high amount of debt, rather than the reported high amount of growth, should be the major concern of those watching China’s markets.
Published on Jul 15, 2015
Source: CNBC
On CNBC, Michael Pettis discussed why he hoped for a slowdown in Chinese economic growth. He said that as China’s economy moves away from investment to consumption, one would expect a slowdown in the economy. However, due to the government keeping investment and debt levels high, the growth rate has also remained high. He concluded that the high amount of debt, rather than the reported high amount of growth, should be the major concern of those watching China’s markets.
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.
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