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China's automotive industry reported a sales profit margin of just 3.3 percent for the first three quarters of this year, with September's margin falling to 1.4 percent, the lowest monthly level ever recorded, according to Yicai. Michael Pettis, an economist and professor of finance, posted the figures citing the original source.
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Earlier this year, Michael Pettis highlighted that China’s growing debt is limiting its government’s fiscal space for broad new stimulus to boost economic growth. In a separate analysis, he noted that Greece’s economy saw labor productivity fall alongside a shift toward lower-productivity employment. Pettis frequently comments on financial pressures in both developed and emerging markets.