Michael Pettis
Michael Pettis
Professor
Peking University, China
Michael Pettis is a senior associate at the Carnegie Endowment an a finance professor at Peking University. Before moving to China in 2002, he spent fifteen years on Wall Street running fixed income trading and capital markets desk, specializing in developing countries.
Thursday 11
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17.45 - 18.30
China’s Economy: The Slowdown and its Consequences
Leto Hall | Amalia Hotel
Programming Partner: Chatham House
China’s economy is suffering from a slump in confidence, which is plainly evident among both households and firms. This slump is often explained as the consequence of the government’s determined effort to wean the economy off of its dependence on real estate investment, which has had negative consequences for local government finances, household balance sheets and the financial sector. Despite these hostile forces, the authorities have done little to loosen fiscal or monetary policy. This panel of renowned China experts will delve into the precise reasons for the economy's problems, and will discuss what should and what is likely to be done about it.