Global macroeconomics, China analysis, and financial markets by Michael Pettis
Michael Pettis: Pudong model generated GDP growth but relied on extractive transfers
Yasheng Huang stated that while the Pudong model did produce GDP growth, it established a precedent for a developmental approach that depended on extractive transfers from disenfranchised rural ...
Domestic consumption drove GDP growth by 2.1 points in 2026, Xinhua notes
China's Xinhua news agency reported that domestic consumption contributed nearly half of economic growth in the first three quarters of 2026, increasing GDP growth by 2.1 percentage points. ...
Michael Pettis: Caixin sees divergence in AI infrastructure performance and technology stock valuations
A divergence has emerged between robust financial performance and falling valuations in the technology sector, which Caixin attributes to broader market jitters over the return on investment in AI ...
China industrial profits climbed 14.4 percent in September, Caixin notes
Profits at major industrial companies in China rose by 14.4% year-on-year in September, with nearly all the increase attributed to electronics manufacturing and raw materials manufacturing, ...
Michael Pettis: Investor concerns mount over prolonged consumption slump and business competition pressure
Investor confidence is being affected by the realization that a lengthy decline in consumption and aggressive competition among businesses are taking a greater toll on earnings throughout various ...
China per capita spending rises more slowly than income, Caixin notes
Per capita disposable income in China rose 5.3% year-on-year in nominal terms during the first three quarters, while per capita consumer spending increased by only 3.6%, according to Caixin. The ...
Michael Pettis: China GDP grows 4.5% in third quarter year on year
China's gross domestic product increased 4.5% year on year in the third quarter. Michael Pettis, an economist and professor of finance, stated that the latest data continues to show an economy ...
Beijing coordinates interventions over market concerns, Bloomberg reports
Bloomberg has reported that Beijing is coordinating interventions aimed at addressing concerns about market fragility and working to prevent selling pressure from escalating into a downward ...
Michael Pettis: China prepared to import more high-quality and high-value-added goods
Chinese Premier Li Qiang said on Wednesday that China is prepared to import more high-quality goods, particularly those with high value added, as part of efforts to promote more balanced trade. ...
Greek economy experienced productivity decline and employment shift, Michael Pettis notes
The Greek economy experienced a sharp decline in labor productivity along with a significant shift in employment toward low-productivity sectors, rather than the promised improvement expected from ...
Michael Pettis: China passenger vehicle sales drop 28 percent in September, exports surge 73 percent
Michael Pettis, economist, professor of finance at Peking University and nonresident senior fellow at Carnegie Endowment for International Peace, highlights that passenger vehicle sales in China ...
China’s rising debt pile constrains new economic stimulus, Michael Pettis notes
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights findings from ...
Michael Pettis: China LGFVs rename to bypass borrowing limits
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights that local ...
China bank mergers raise key questions about bad debt, Michael Pettis notes
Michael Pettis, economist, professor of finance at Peking University and nonresident senior fellow at Carnegie Endowment for International Peace, raises an important question regarding China's ...
Michael Pettis: China reduces number of banks by a quarter after over 670 closures last year
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, reports that China has ...
Capital gains larger share of U.S. income while paying less tax, Michael Pettis notes
Michael Pettis, economist and professor of finance at Peking University and nonresident senior fellow at Carnegie Endowment for International Peace, highlights views from Oren Cass on shifts in ...
Michael Pettis: China U.S. trade imbalances are interconnected policy challenges
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, shares Biagio ...
Beijing now overdependent on exports, Michael Pettis notes
Michael Pettis, economist, professor of finance at Peking University and Carnegie Endowment for International Peace, shares an assessment from Xijing Research Institute dean Zhao Jian about ...
Michael Pettis: Chinese gold imports through August exceed 1,000 tons
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights that Chinese ...
Rents in Shanghai and Shenzhen drove net increase, Michael Pettis notes
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, reports that rents in ...
Michael Pettis: China passenger car sales fall 23.6 percent in August
Michael Pettis, economist, professor of finance, nonresident senior fellow, author, macroeconomic analyst at Peking University; Carnegie Endowment for International Peace, highlights data from ...
