Report confuses global trade and policy debates, Michael Pettis states

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06.07.2026

Report confuses global trade and policy debates, Michael Pettis states — McKinsey report confuses trade policy discussions

Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, comments on the latest report from the McKinsey Global Institute.

According to Pettis, the report contains valuable material and interesting ideas but muddles important policy discussions regarding global trade imbalances, deindustrialization, and industrial policy.

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Pettis has previously highlighted challenges in China's economy, noting its persistent focus on production over consumption and rising excess capacity in a recent analysis. He also cited that an estimated 10.6% of Chinese adults were overdue on debt payments by the end of 2025, reflecting concerns about household financial strain in earlier commentary. Together, these points inform his perspective on global trade and policy issues.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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