Introduction

China's economic troubles continue, prompting the country's central bank today to cut interest rates for the second time in three months. However, the bank unexpectedly kept the five-year rate unchanged. Markets were expecting Beijing to offer more support for the property sector which makes up around 25% of the economy. Joining Julia to discuss is Michael Pettis, professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets. 

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