Charting the Course of the Global Economy
Real Vision: Finance & Investing
00:00
The Causation of the Bubble in China
Michael Pettis, who's a professor in China, said that he thought you misunderstood the causation of this. The government in China was in large part the causality of a lot of the bubble,. And so this response that the government then needs to respond to the bubble could actually exacerbate things. He said that the market value of these assets really needs to come down.
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