Beijing knows it wants to discontinue the country’s existing, unsustainable growth model. The latest "Common Prosperity" policy will only shift domestic demand at the margins; a full-fledged rebalancing will require a more radical transformation. A reading, by Emil Kalinowski.
----------WHO----------
Michael Pettis, Finance Professor at Peking University and Senior Fellow at Carnegie-Tsinghua Center, specializes in Chinese financial markets, economic history, global capital flows and the relationship between different sectors of national economies. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Amber Lights" by Chill Cole at Epidemic Sound.
----------WHAT----------
Will China’s Common Prosperity Upgrade Dual Circulation?: https://bit.ly/2Z6CoCr
----------WHERE----------
Michael's Blog: https://carnegieendowment.org/chinafinancialmarkets
Michael's Twitter: https://twitter.com/michaelxpettis
Emil's Twitter: https://twitter.com/EmilKalinowski
David's Art: https://davidparkins.com/
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