Discussion about this post

User's avatar
Godfree Roberts's avatar

China’s current economic difficulties? China? For God's sake!

China's economy will grow $1.5 trillion this year. Only 3 years in history can match that.

China has $9 trillion in foreign reserves.

Chinese personal savings are $3-$6 trillion, matching corporate liquid assets.

China leads the world in all fields of scientific research (it outspends the US 4:1) and technological innovation.

It also leads in diplomacy and social development, and its military hardware is a full generation ahead of ours.

You seem to rely on Fox News for your knowledge of China, which is fine for boosting readership, but is steering us into a ditch, in case you haven't noticed.

Why not focus our our own myriad, serious problems, which you can see for yourself, instead of inventing problems for a country about which you know nothing?

Expand full comment
Marianne O, CFA's avatar

Many thanks for writing this mini series, Adam, and comparing and contrasting the various theories and interpretations of China's problems.

I highly respect Michael Pettis' analysis as I started as an emerging market debt analyst in the 1990s and Pettis is one of the key economists I followed and a person I met a couple of times over the years. His solutions for China are more holistic and inclusive, I guess this is also because he has been living and breathing in China for 20 years! China is such a different country than Venezuela and anywhere else - China relies on domestic demand (around 65% of GDP like the US) while Venezuela is trade-dependent (65% of GDP). So traditional macroeconomic policies still have a large part to play in China. China's wealthy and educated ones are already leaving China on their own and hardly need any other forces to incite! Looking forward to the next series!

Expand full comment
3 more comments...

No posts