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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

What do the “good” trade numbers tell us?

Michael Pettis Sep 11, 2010

by Michael Pettis I apologize for taking so long to write but for the past two weeks (and the next five days) I have been travelling for conferences and meetings. I spent last week in Buenos Aires at the 75th Anniversary Conference…

Economy

Have we underestimated Chinese consumption?

Michael Pettis Aug 28, 2010

By Michael Pettis On August 8 Credit Suisse published a study they had commissioned by Professor Wang Xiaolu of the China Reform Foundation. A lot of readers have asked on- and offline me to discuss this study in light of the entry I…

Economy

Chinese consumption and the Japanese “sorpasso”

Michael Pettis Aug 11, 2010

There has been a lot of excited press commentary recently about China’s overtaking Japan as the world’s second largest economy. China’s GDP should be larger than Japan’s for the first time sometime this year, which in a similar…

Economy

The PBoC can’t easily raise interest rate

Michael Pettis Jul 28, 2010

A lot of people have asked me to write about the recently “leaked” CBRC report on dodgy local government debt. Here is what the article in Monday’s Bloomberg had to say about it (and note especially that delicious second paragraph):…

Monetary System

Do sovereign debt ratios matter?

Michael Pettis Jul 20, 2010

By Michael Pettis In the past few weeks I have been getting a lot of questions about serial sovereign defaults and how to predict which countries will or won’t suspend debt payments or otherwise get into trouble. The most common…

News

The capital tsunami is a bigger threat than the nuclear option

Michael Pettis Jul 15, 2010

By Michael Pettis Since this is another long posting, it might make sense to summarize briefly its two parts. In the first part, expanding on an Op-Ed piece of mine published by the Wall Street Journal on Monday, I argue that…

Economy

What do banking crises have to do with consumption?

Michael Pettis Jul 4, 2010

Just three days after returning to Beijing from New York, I had to leave again, this time to a series of conferences in Torino, Italy, so it is hard to do much writing for my blog, especially since I won’t spend my free time in the hotel…

Monetary System

What might history tell us about the Greek crisis?

Michael Pettis Jun 26, 2010

By Michael Pettis. With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that…