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Michael Pettis: China passenger car sales fall 23.6 percent in August

Michael Pettis: China passenger car sales fall 23.6 percent in August
China car sales fell 23.6 percent

Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights data from Caixin showing that retail sales of passenger cars in China dropped 23.6 percent year-on-year in August.

This marks the second-steepest monthly decline of the year, with Pettis suggesting the market shows no signs of a sustained recovery. He adds that evidence may point to consumer vouchers having a limited impact on boosting overall consumption.

Pettis has previously discussed debate over China’s foreign trade imbalances, referencing views on export surpluses and currency issues in a prior analysis. He has also addressed issues of international resource control, highlighting both Venezuelan and anticipated U.S. opposition to Chevron’s involvement in Venezuela's oil sector. These topics reflect his ongoing coverage of global economic developments.

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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