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Michael Pettis compares China's reported current account surplus with the best estimate of its actual current account surplus.
The analysis suggests a potential gap between official figures and alternative calculations regarding China's external balance.
Pettis has recently highlighted slowdowns in some sectors of China’s economy. Shenzhen reported 0.5% growth in retail sales and a 5.8% GDP increase in the first quarter. He also noted that China’s top bad-debt managers are booking accounting gains from state-backed bank stakes as the property market struggles.