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China could face similar economic strains seen in 2008-09, Michael Pettis notes

China could face similar economic strains seen in 2008-09, Michael Pettis notes
Roach warns of China economic risks

Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights concerns raised by Stephen Roach about global economic imbalances. Roach points to how ever-mounting imbalances brought the U.S. and world economy to its knees during the great financial crisis of 2008-09 and warns that a similar scenario could happen in China. Pettis notes that Roach has consistently expressed worry about China's imbalances, though he has evolved his perspective on their creation.

Pettis has previously critiqued a McKinsey Global Institute report for blurring discussions on global trade imbalances and industrial policy. He has also noted a shift in Chinese private equity, stating that state-backed investors are now the industry's main capital source. These observations add context to Pettis's focus on structural financial issues in China and the global economy.

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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