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China's Path to Economic Recovery Post-Coronavirus with Michael Pettis

Interpreting India

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The Effect of Further Reduction in Consumption and an Increase in Household Savings on China's Economy

China has reached the logical limits of a high savings led strategy, says David Frum. China is too big to rely on exports, so basically you need consumption to grow, he adds. Chinese households actually have more debt now as a share of their income than U.S. households did in 1990s. The only way to get consumption to grow quickly would be through very large wealth transfers from local governments and local elites to ordinary Chinese households,. But it's just politically extremely difficult to do so.

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