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23min chapter
China Is Exporting Unemployment | Michael Pettis on Global Trade Imbalances, American Capital Controls, and the End of The Chinese Growth Miracle
Forward Guidance
Debating Industrial Policy and Global Trade Interdependencies
This chapter explores the debate around industrial policy in the US, the interconnected nature of global trade, and its impact on the global economy. It discusses the effects of different policy choices on trade imbalances, the role of tariffs versus taxes on capital inflows, and the contrasting approaches of the Biden and Trump administrations towards China. The chapter also touches on China's economic model shift towards manufacturing, its growing share of global manufacturing, and the challenges it poses for rebalancing global trade dynamics.
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Discover
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