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6min chapter
Michael Pettis on Persistent Imbalances in Post-Pandemic China
Odd Lots
The China Experience
Michael Pettis is a finance professor over at Peking University. He's probably one of the best China commentators out there. The only reason China had 2.3% real GDP growth was because of a 7% surge in real estate development, he says. But high quality growth that is consumption and business investment were down quite substantially,. And it's not a big secret that China has one of the fastest growing debt ratios - 25% points last year.
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