Author: Michael Pettis

What does a “good” Chinese adjustment look like?

I have always thought that the soft landing/hard landing debate wholly misses the point when it comes to China’s economic prospects. It confuses the kinds of market-based adjustments we are likely to see in the US or Europe with the much more controlled process we see in China. Instead of a hard landing or a […]

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Can Pedro Sanchez save the PSOE?

Last month Pedro Sánchez Castejón was chosen to be the new leader of Spain’s center-left Socialist Party (PSOE).  El Pais called his appointment a “renewal” of the PSOE, although Sánchez seems to have been chosen mainly because he is too young and unknown to suffer from the revulsion most Spaniards feel towards the political establishment. […]

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Zounds! Hacked again!

I apologize to those who have submitted comments but for the past nearly four weeks I have been unable to enter into my blog as editor, which means that I have been able neither to post new entries nor to approve comments. I finally regained control last night and tried to approve all the legitimate […]

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