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Michael Pettis: China's Economic Growth Model Is Dying
Forward Guidance
The Chinese Stock Market and Growth
Is it realistic at all that the Chinese Yuan becomes the next global reserve currency and Chinese leadership in Beijing? Do they have that ambition at all? No, I think what they would like to do is to have more trade denominated in a system in which the US cannot turn it off. What really matters is if I buy the shoes from you, what do you do with the money? And at the end of the day, what you're going to do with themoney isyou're going to buy US assets. The stock market is quite small in China relative to the size of the economy. It's not that important. It matters at the margin. Prices go up. A few people
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