Michael Pettis: Beijing focuses on boosting domestic demand to drive growth

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Michael Pettis: Beijing focuses on boosting domestic demand to drive growth — Beijing seeks growth from domestic demand

Michael Pettis, economist, professor of finance and macroeconomic analyst at Peking University and the Carnegie Endowment for International Peace, discusses recent policy proposals in Beijing to increase the role of domestic demand in supporting economic growth.

He highlights ongoing arguments that expanding investment in the retail sector could raise wages and, in turn, grow consumption relative to output. However, he expresses skepticism about the effectiveness of this approach.

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Pettis has previously criticized a McKinsey Global Institute report for mixing discussions of global trade imbalances with industrial policy. He also recently reported that an estimated 10.6% of Chinese adults were overdue on debt payments at the end of 2025. These assessments provide additional context for his views on domestic economic challenges.

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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