Michael Pettis

Latest from Michael Pettis

Foreign acquisitions may not benefit bank investors
Foreign exchange reserves cannot be viewed as wealth
Blame game will not make crisis easier to resolve
China must help itself ... for the US' sake
Death by fire or ice is death nevertheless
Protectionism and discord bode ill for G20
Can China avoid US pre-Depression errors?
Financial capitals unlikely to lose their clout
Out-of-control loan growth could be costly
Mainland markets are poor prognosticators
Beggar-thy-neighbour policy rears ugly head
Bubbly conditions may be reason to cheer
Alternative culture promises a revolution
US needs to display  leadership, not panic
Curbing overcapacity a painful but vital task
Stockpiling disrupts mainland's natural hedge
Dollar's retreat as  reserve currency  just so much talk
Why countries resort to trade protectionism
Difficulties over raising consumption pace
Policy co-ordination can head off trade rows
Japan's past has lessons for Beijing
Trade pessimists may well be right
Can't we all just depreciate our monies together?
A sharp drop in mainland car sales would reveal the big flaw in its economic strategy
Southern Europe's way out of crisis may require ceding sovereignty to Brussels
Look to Japanese experience for a costly lesson in rebalancing
History shows currency devaluation may not be a calamity
Households pay for low inflation and cheap yuan
Why China gains from yuan revaluation
High cost of rebalancing is a necessary evil