Chinese growth and the question of economic rebalancing. Interview with George Soros. Chinese Economy and the new Leadership Q: What do you think of China’s economic performance in the past year?
A: Since 2008, when the financial crisis started in the US, China became the motor of the global economy. It became the driving force moving global economy forward. Pettis, M.: The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy. China's economic growth is sputtering, the Euro is under threat, and the United States is combating serious trade disadvantages.
Another Great Depression? Not quite. Noted economist and China expert Michael Pettis argues instead that we are undergoing a critical rebalancing of the world economies. Debunking popular misconceptions, Pettis shows that severe trade imbalances spurred on the recent financial crisis and were the result of unfortunate policies that distorted the savings and consumption patterns of certain nations. Pettis examines the reasons behind these destabilizing policies, and he predicts severe economic dislocations--a lost decade for China, the breaking of the Euro, and a receding of the U.S. dollar--that will have long-lasting effects. The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the ... - Michael Pettis. Aggregate Savings and External Imbalances in China. Aggregate Savings and External Imbalances in China. HLLecture-Yang.