Michael Pettis mainly discussed China’s structural imbalances: weak domestic demand, excess investment, credit expansion, export dependence and the political difficulty of rebalancing toward households. He argued that China’s technology and manufacturing strength is partly produced by the same imbalances that now constrain demand, so simply shifting more policy support into technology would not solve the problem 23. He also addressed trade imbalances, exchange-rate intervention, the Plaza Accord, industrial subsidies and the international backlash against Chinese exports 353338.
On the record
last 30 days · 2 positionsLatest positions
- MPMichael PettisAgainst on China Securities Regulatory Commission The CSRC should be encouraging mandatory convertible bonds rather than declining to register them. “The CSRC should be encouraging them.” Open the post Bloomberg: "The China Securities Regulatory Comm… · 9 Sept
- MPMichael PettisBullish on mandatory convertible bonds He views mandatory convertible bonds as very good, countercyclical financing instruments for overly-indebted entities. “These are actually very good, countercyclical instruments for financing overly-indebted entities” Open the post Bloomberg: "The China Securities Regulatory Comm… · 9 Sept
Their output
108 in September 2026Stories it travels in
i
The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
- Brad Setser 8 mentions
- Adam Tooze 7 mentions
- Brent Johnson 2 mentions
What they talk about
- China 68 items · disputed
- Caixin Media 20 items
- Bloomberg 8 items
- yuan 8 items
- Brad Setser 6 items
- Financial Times 6 items
- manufacturing 6 items
- People's Bank of China 5 items
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