Professor at Peking University
Contributor's Links: China Financial Markets

Michael Pettis is a professor at Peking University's Guanghua School of Management, where he specializes in Chinese financial markets. He has also taught, from 2002 to 2004, at Tsinghua University’s School of Economics and Management and, from 1992 to 2001, at Columbia ... more

ALL CONTRIBUTIONS

High Wages Versus High Savings In A Globalized World
Democracies will increasingly have to choose between raising wages and redistributing income or maintaining free trade and capital flows. Because they are likely to choose the former, the world may face a long-term reversal of globalization.
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The GDP Of Bridges To Nowhere
GDP growth is a measure of economic output generated by economic performance. But China sets annual GDP growth targets it expects to meet. GDP growth as an economic input, rather than an output, radically changes its meaning and interpretation.
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China: Choosing More Debt, More Unemployment, Or Transfers
Since 2010-11, and even more so in the past year or two, it has often been difficult to evaluate the consistency of Beijing’s policies within China’s economic rebalancing. This shouldn’t be surprising.
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The Impact In China And Abroad Of Slowing Growth
While the chances of a disruptive adjustment – including a financial crisis – are clearly rising, for now I will assume, as I have since 2009-10, that China is able to pull off a non-disruptive rebalancing.
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Does It Matter If China Cleans Up Its Banks?
An analysis of 765 banks in China by UBS Group AG shows that efforts to clean up the country’s debt-ridden financial system are well underway, with as much as 1.8 trillion yuan ($271 billion) of impaired loans.
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Rebalancing, Wealth Transfers, And The Growth Of Chinese Debt
Today it no longer seems necessary to explain that Chinese debt levels are far too high.
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STOCKS I FOLLOW

AUSE Wisdomtree Trust
CNY Market Vectors-Renminbi/USD ETN
CYB WisdomTree Dreyfus Chinese Yuan Fund
DFJ WisdomTree Japan SmallCap Fund
DXJ WisdomTree Japan Total Dividend Fund
EDC Emerging Markets Bull 3x Shares
EEM iShares MSCI Emerging Markets Index
ERO iPathSM EUR/USD Exchange Rate ETNs
EUO ProShares UltraShort Euro
EWA iShares MSCI Australia Index Fund
EWJ iShares MSCI Japan Index Fund
FCA First Trust Exchange-Traded AlphaDEX Fund 2
FXE Euro Currency Trust
FXI iShares China Large-Cap
GXC SPDR S&P China ETF
IEV iShares Europe
PGJ PowerShares Gldn Dragon Halter USX China
SLX Market Vectors Steel Index Fund
SPY SPDR S&P 500
VGK VANGUARD EUROPEAN ETF
VWO Vanguard FTSE Emerging Markets ETF
YINN Direxion Daily China 3x Bear
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