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Michael Pettis: China's Economic Growth Model Is Dying
Forward Guidance
The American Problem in China
Common prosperity is really an attempt to solve the American problem in China, he says. He argues that households account for about 80% of American GDP. In China, households retain around 60%. And businesses, let's call it 20%. It's hard to know where you draw the line between business and government,. But roughly 20% in line with other economies. And the government retains 20%.
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