Michael Pettis, Discover and Read the Best of Twitter Threads by @michaelxpettis

Michael Pettis

michaelxpettis

1/10CFR has put together an excellent “Global Imbalances Tracker” that allows users access to current account data in a very handy format. There were two things that struck me most

1/4In my opinion the idea that India's future growth depends on whether or not it joins RCEP or other trade agreements is mostly ideological nonsense. Smaller countries can perhaps advance

1/5Thanks to FT for publishing my most recent piece. The point I try to make in this article is that for China to double GDP by 2035 requires that at

1/10The fierce debate continues in Beijing between those who are more worried by rising debt and those more worried by slowing growth. Among the former, two weeks ago Lou Jiwei

1/7Because RMB is a managed currency, whether or not it rises depends on the PBoC, but if rising expectations cause significant continued inflow into RMB, there are basically three ways,

1/9Of course regulators worry about Ant's disruptive potential. Its overwhelming success had less to do with its technological innovation and more to do with the fact that a lightly regulated

1/7Very interesting piece on the gradual and imperfect transition (“GDP adoption in China was an experimental – and ultimately unsuccessful – process of translation”) in China from the Soviet-invented Material

1/7Good article by Janan Ganesh, but while I agree that governance is what democracies are supposed to do best, I would also argue that democracies, as Churchill is supposed to

1/8While straight-line projections may be inviting, they are really questionable even in the best of circumstances. Bloomberg says that if China’s economy can stick to the growth trajectory of recent

1/8Although I sympathize with Stephen King’s frustration at some of the sillier things proposed in the name of MMT, I think it is deceptive to suggest that government borrowing today

1/9Very interesting thread. Capital Economics says China’s GDP growth has been overstated by roughly 12% in the past five years – a very hefty number – while the San Francisco

1/4Governor Yi Gang says that the greater monetary stimulus adopted by the US and Europe will see diminishing effects and will be hard to quit. What is more, “in the