By Michael Pettis, a Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management. Cross posted from China Financial Markets. For the past ten years much of what I have written about debt in China was aimed mainly at trying to convince analysts and policymakers […]
Read more...Australia and other countries had the opportunity to reduce financial fragility. They may soon discover the cost of doing too little.
Read more...Lender demands in China as a sign of credit stress.
Read more...Price deflation, and classic debt deflation dynamics, are staring to appear in India and China.
Read more...Vancouver ponders a long-overdue measure to target residential real estate warehousing.
Read more...Trump as a symbol of an America morphing into a visibly less democratic fading empire.
Read more...Steve Keen’s macroeconomic model allows him to identify zombies-in-the-making. It’s not pretty.
Read more...If China’s very low level of social capital has long ago made its investment strategy obsolete, that suggests that China has overinvested beyond its capacity to utilize these investments economically. Thus there are hidden losses on bank balance sheets created by the failure to write down physical capital to its true value. In this case Chinese growth cannot help but drop significantly as these losses are finally recognized and as investment levels are sharply curtailed.
Read more...The gap between the posturing and practice of free trade.
Read more...Australia is in the grip of the greatest economic scab grab of my lifetime
Read more...Chinese officials sent a serious warning about ending debt growth. If they are serious, the shock waves will engulf not just China but also the global economy.
Read more...Seeing states as the vehicle for projecting power is dated, particularly as far as understanding America’s position is concerned.
Read more...Is China as at much risk as Soros suggests it is?
Read more...Why the shift in economic power from advanced to developing economies has not gone as far as most accounts would have you believe.
Read more...Australia’s macro numbers are looking more worrisome by the minute. Is this a trajectory to a debt crisis?
Read more...