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Feature interview: China finance expert Michael Pettis
First Move with Julia Chatterley
What's the Impact of the Consolidation of Power on China's Economy?
China invests about 42% of its GDP, a third more than high investing rapidly growing economies. Michael Peds: China has really limited options. It's got to bring investment down and as you bring it down, that's going to drive growth down with all of the consequences. So you have to bring up consumption, which is also very difficult to do.
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