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Michael Pettis 118 posts 0 comments

Michael Pettis is a Senior Associate at the Carnegie Endowment for International Peace and a finance professor at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets. Pettis has worked on Wall Street in trading, capital markets, and corporate finance since 1987. Pettis is a member of the Institute of Latin American Studies Advisory Board at Columbia University as well as the Dean’s Advisory Board at the School of Public and International Affairs. He received an MBA in Finance in 1984 and an MIA in Development Economics in 1981, both from Columbia University. He writes the blog .

Economy

The dollar, the RMB and the euro?

Michael Pettis
By Michael Pettis Barry Eichengreen had a very interesting piece in last week’s Wall Street Journal. In it he argues that we are approaching the end of the period in which the US dollar is the world’s dominant reserve currency, and…
Economy

Zaiteku and China’s January inflation

Michael Pettis
It turns out, according to most interpretations of the SAFE report, that the speculators creating the hot-money inflows are not the much-vilified foreign hedge funds – surprise, surprise – but Chinese businessmen bringing money into the…
Political Economy

Currency manipulation

Michael Pettis
By Michael Pettis On Friday the US Treasury released its presumably semi-annual (it was due last October) report to Congress on currency issues, and in it refrained from calling any of the countries under review “currency…
Economy

How big is Chinese GDP?

Michael Pettis
By Michael Pettis Most of this week’s newsletter was about the release last week of China’s fourth quarter GDP growth numbers by the National Bureau of Statistics (NBS). You can find the full NBS report on their website, but here is the…
Economy

The real cost of Chinese NPLs

Michael Pettis
by Michael Pettis Once again I am starting to hear investors tell me that they have been advised by bank analysts not to worry too much about the impact of a banking crisis in China.  According to this argument, China has developed a…
Economy

China’s lending quota?

Michael Pettis
By Michael Pettis This year to everyone’s surprise the PBoC failed to announce 2011’s lending quota. Instead it announced a series of new polices aimed at monitoring the banks. According to an article in Thursday’s People’s Daily: The…
Economy

Chinese growth in 2011

Michael Pettis
by Michael Pettis For the past two months there have been very strong rumors in the markets that next year’s new lending quota was going to be set somewhere between RMB 6.5 trillion and RMB 7.0 trillion.  For comparison’s sake, total…

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