A nice timely article from FT Alphaville.
The intent here isn’t to blindly counter the optimism of the headline numbers but to point to the enormous policy challenges that exist (and have existed but not been met). Sure, the pressures created by imbalances will force change over time in one way or another, but choosing not to preempt them ignores the sad danger inherent in potential.
A good read
A tidbit: More take on China and revisiting his early '11 predictions, Michael Pettis elaborates
The intent here isn’t to blindly counter the optimism of the headline numbers but to point to the enormous policy challenges that exist (and have existed but not been met). Sure, the pressures created by imbalances will force change over time in one way or another, but choosing not to preempt them ignores the sad danger inherent in potential.
A good read
A tidbit: More take on China and revisiting his early '11 predictions, Michael Pettis elaborates
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