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The China Shock Is Coming With Michael Pettis

Lead-Lag Live

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What Institutional Changes Will China Need?

The US should take the lead in putting a simple tax on inflows, says Michael Pettis. The U.S. pays an enormous cost for the dominance of the dollar and its world as the insurer of last resort,. China really needs much more of a market-based financial system than it has now," he adds.

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