Michael Pettis
@michaelpettis.bsky.social
📤 12495
📥 100
📝 5252
Senior Fellow at Carnegie China. For speaking engagements, please write to
[email protected]
1/2 Caixin says that in order to boost consumption, "China will continue its nationwide initiative to encourage equipment upgrades and trade-ins of consumer products through 2026, but with a reduced scope for household appliance subsidies."
www.caixinglobal.com/2025-12-31/c...
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China Extends Consumer Stimulus to 2026, Cuts Back on Home Appliance Support
$8.9 billion plan narrows eligible products, ups energy standards, and scraps subsidies for home renovations
https://www.caixinglobal.com/2025-12-31/china-extends-consumer-stimulus-to-2026-cuts-back-on-home-appliance-support-102398922.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pKmOYDwojAEb7XrNbaesoo8g%3D%3D&cxg=web&Sfrom=twitter
about 3 hours ago
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1/3 Bloomberg: "Chinese stocks look set for their strongest showing since 2017, with the MSCI China Index rising about 28% this year, after a technology-driven bull run broadened out to include companies from gold miners to drug makers."
www.bloomberg.com/news/article...
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Chinese Stocks on Track for Best Year Since 2017 as Rally Widens
Chinese stocks look set for their strongest showing since 2017, after a technology-driven bull run broadened out to include companies from gold miners to drug makers.
https://www.bloomberg.com/news/articles/2025-12-29/chinese-stocks-on-track-for-best-year-since-2017-as-rally-widens?utm_source=website&utm_medium=share&utm_campaign=twitter
1 day ago
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1/5 According to this slightly confused SCMP article, "Analysts said the gap in China's external accounts reflects how much of the surplus has flowed back overseas through asset investment, largely made by private-sector players, leaving China’s...
sc.mp/k14j3?utm_so...
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China has logged a US$1 trillion trade surplus. Where is all that money going?
Trade surplus growth has not been matched in foreign exchange reserves – a gap analysts said can be explained by private sector outflows.
https://sc.mp/k14j3?utm_source=twitter&utm_campaign=3338034&utm_medium=share_widget
1 day ago
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Bloomberg: "China is about to start paying interest on its official digital currency in a fresh push to get more people to use it after about a decade of development and testing."
www.bloomberg.com/news/article...
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China to Pay Interest on Digital Yuan in Bid to Boost Adoption
China is about to start paying interest on its official digital currency in a fresh push to get more people to use it after about a decade of development and testing.
https://www.bloomberg.com/news/articles/2025-12-29/china-to-pay-interest-on-digital-yuan-in-bid-to-boost-adoption?utm_source=website&utm_medium=share&utm_campaign=twitter
2 days ago
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1/3 SCMP: "About 50 unprofitable mainland Chinese EV makers are under pressure to scale down their business or wind down operations, as the country’s automotive sector is projected to report a sales drop next year – the first such contraction since 2020."
www.scmp.com/business/chi...
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Dozens of Chinese EV makers under pressure to fold or trim operations: analysts
Grappling with expiring cash subsidies and tax incentives, China’s car market is forecast to see deliveries slump next year.
https://www.scmp.com/business/china-business/article/3337827/dozens-chinese-ev-makers-under-pressure-fold-or-trim-operations-2026-analysts?module=top_story&pgtype=section
2 days ago
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1/7 SCMP: "China is tapping the brakes on some subway expansions, including in certain affluent cities, reflecting a shift from the debt-fuelled infrastructure boom of the past to a new era of fiscal discipline and investment efficiency."
www.scmp.com/economy/chin...
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No more empty trains: China tightens rules on subway expansions to curb debt
Rich hubs, including Ningbo and Suzhou, are hitting regulatory roadblocks as the central government prioritises fiscal discipline over infrastructure-led growth.
https://www.scmp.com/economy/china-economy/article/3337825/chinese-cities-face-subway-delays-beijing-targets-wasteful-spending-high-debt-levels?module=top_story&pgtype=homepage
2 days ago
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1/4 FT: "Europe’s hopes of a return to growth in 2026 rest largely on Germany’s €1tn debt-funded spending drive on infrastructure and defence."
www.ft.com/content/4db9...
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Europe’s growth prospects depend on German spending spree, economists say
Rate of increase in output expected to slow despite Berlin’s fiscal push, FT survey finds
https://www.ft.com/content/4db902c0-7586-4e24-b388-8c3c78858514
3 days ago
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1/5 FT: "Chinese offerings of asset-backed securities have hit a record high this year as cash-strapped local governments struggle to plug fiscal holes." Needless to say, selling ABS is a double-edged sword.
www.ft.com/content/2d9e...
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China’s cash-strapped local governments drive record sales of asset-backed securities
ABS issues bring in badly needed money but some assets are of uncertain quality
https://www.ft.com/content/2d9ed75f-b149-4c1a-917a-1215dde5718e
3 days ago
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1/7 There's a lot of recent talk about a strengthening of the RMB in 2026, and while I expect that there will be some strengthening, its impact will mostly be to reverse part of the real RMB weakening of recent years.
www.wsj.com/finance/curr...
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Trump Wants a Weaker Dollar. Some Chinese Say He Has a Point.
A significant weakening of the dollar versus China’s currency didn’t happen in 2025, but some forecasters say it’s a wild card to watch in the new year.
https://www.wsj.com/finance/currencies/trump-wants-a-weaker-dollar-some-chinese-say-he-has-a-point-890ed1b4?st=L3DpsR
3 days ago
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1/2 Interesting Caixin article: "As Chinese investment deepens across Latin America, companies are learning that their vaunted “China speed” — a culture of high velocity and high pressure — must contend with strict labor laws and deeply ingrained norms."
www.caixinglobal.com/2025-12-27/w...
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Weekend Long Read: When China Speed Meets Brazil Rhythm
As Chinese firms expand into Latin America’s largest economy, their demanding work culture is clashing with strict labor laws and the relaxed local lifestyle
https://www.caixinglobal.com/2025-12-27/weekend-long-read-when-china-speed-meets-brazil-rhythm-102397394.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pK331JzTL8O1XJVRrxFdJzSg%3D%3D&cxg=web&Sfrom=twitter
3 days ago
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Good news for me and my Beijing friends: according to Yicai, "Beijing, Hangzhou, and Shanghai claimed the top three positions in a Tsinghua University ranking that measures Chinese cities by residents’ health."
www.yicaiglobal.com/news/beijing...
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Beijing, Hangzhou, and Shanghai Are China’s Healthiest Cities, Tsinghua University Report Shows
https://www.yicaiglobal.com/news/beijing-hangzhou-shanghai-are-chinas-healthiest-cities-tsinghua-university-report-shows
3 days ago
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1/2 Yicai: "Chinese exporters have shifted focus to the European market this year as they face pressure from US tariffs. While many have seen strong results, the move has also ramped up competition across the region.
www.yicaiglobal.com/news/europe-...
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Europe Becomes Main Battleground for Chinese Exporters as US Tariffs Bite
https://www.yicaiglobal.com/news/europe-becomes-main-battleground-for-chinese-exporters-as-us-tariffs-bite
3 days ago
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Yicai: "Local governments across China are rolling out more subsidies for car purchases to spur year-end auto sales."
www.yicaiglobal.com/flashdetail/...
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News Flash
https://www.yicaiglobal.com/flashdetail/107268426646213
3 days ago
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1/2 Xinhua: "China has achieved zero growth in total water consumption since the beginning of the 14th Five-Year Plan period (2021-2025), even as the country's economic aggregate continued to reach new heights and grain output remained abundant."
en.people.cn/n3/2025/1227...
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China achieves zero growth in total water consumption despite economic expansion - People's Daily Online
BEIJING, Dec. 26 (Xinhua) -- China has achieved zero growth in total water consumption since the beg
https://en.people.cn/n3/2025/1227/c90000-20407519.html
3 days ago
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I just finished reading Philip Snow's very interesting book on the complicated history of one of the world's most important geo-political relationships.
4 days ago
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1/2 The Chief Economist at Huatai Securities believes the RMB is beginning a strengthening cycle: "Fundamentally, the yuan is highly competitive, and its relative price advantage is growing daily. Between April 2022 and June of this year, the yuan’s...
www.caixinglobal.com/2025-12-26/c...
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Commentary: The Yuan’s Rebound Is Just Beginning
After breaking the key 7-per-dollar level, fundamental strengths and shifting U.S.-China ties will drive further gains, boosting Chinese assets and challenging bearish narratives
https://www.caixinglobal.com/2025-12-26/commentary-the-yuans-rebound-is-just-beginning-102397360.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pK331JzTL8O1VfQDmbsy3%2F2g%3D%3D&cxg=web&Sfrom=twitter
4 days ago
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Bloomberg: "China has launched a national venture capital fund and three regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions. The national fund will run for 20 years."
www.bloomberg.com/news/article...
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China Starts State-Backed Venture Funds to Support Tech Startups
China has officially launched a national venture capital fund and three large regional funds, together worth billions of dollars, as part of a push to foster home-grown tech champions and improve inve...
https://www.bloomberg.com/news/articles/2025-12-26/china-starts-state-backed-venture-funds-to-support-tech-startups?srnd=phx-technology
4 days ago
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Chinese retail have been huge buyers of gold in recent years, and this year some of the interest seems to have shifted to silver.
www.bloomberg.com/news/article...
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Precious Metals Craze Prompts China Fund to Turn Away Investors
A global frenzy for precious metals has provoked extreme measures in China’s investment landscape, with the country’s only pure-play silver fund turning away new customers after its repeated risk warn...
https://www.bloomberg.com/news/articles/2025-12-26/precious-metals-craze-prompts-china-fund-to-turn-away-investors?utm_source=website&utm_medium=share&utm_campaign=twitter
4 days ago
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1/4 Bloomberg: "One measure of borrowing by China’s local governments for infrastructure is on pace to hit a six-year low. Behind the downturn is China’s campaign to rein in so-called hidden local debt, along with increasingly stringent rules for...
www.bloomberg.com/news/article...
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China Trapped in Investment Slump as Infrastructure Bonds Dry Up
One measure of borrowing by China’s local governments for infrastructure is on pace to hit a six-year low, as Beijing clamps down on risks in a strategy shift that calls into question its promise to s...
https://www.bloomberg.com/news/articles/2025-12-23/china-trapped-in-investment-slump-as-infrastructure-bonds-dry-up?taid=694b1448f6b710000196f8e5&utm_campaign=trueanthem&utm_content=business&utm_medium=social&utm_source=twitter
6 days ago
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Yicai: "The floor area of sold homes and the investment completion were only at 48 percent and 62 percent in the first 11 months of this year, respectively, from the level in the same period in 2021, according to KPMG China."
www.yicaiglobal.com/news/china-e...
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China Expects Resale Homes to Play Big Role in Property Market Over Next Five Years
https://www.yicaiglobal.com/news/china-expects-second-hand-homes-to-play-big-role-in-real-estate-market-over-next-five-years
6 days ago
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Yicai: "With the number of travelers between China and Japan continuing to decrease after relations between the two countries cooled last month, nearly half of the flights between the two countries are expected to suspend operations in January."
www.yicaiglobal.com/news/almost-...
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Almost Half of China-Japan Flights to Be Axed Next Month
https://www.yicaiglobal.com/news/almost-half-of-china-japan-flights-to-be-axed-next-month
6 days ago
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reposted by
Michael Pettis
Foreign Affairs
7 days ago
“To sustain a stable and fair global system, policymakers must recognize that integration entails shared constraints.”
@michaelpettis.bsky.social
makes the case for a global customs union:
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How to Fix Free Trade
A global customs union could solve the problem of imbalances.
https://www.foreignaffairs.com/united-states/how-fix-free-trade?utm_campaign=bs&utm_content=&utm_medium=social&utm_source=bluesky
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1/5 Caixin: "The FCC said that foreign-made drones and key components pose an “unacceptable risk” to U.S. national and public safety and should be added to the agency’s Covered List, a move that would bar new models from receiving regulatory approval."
www.caixinglobal.com/2025-12-24/u...
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U.S. Regulator Targets Foreign Drones, Threatening Future DJI Models
FCC ruling spares existing devices but could shut new overseas drone products out of the U.S. market
https://www.caixinglobal.com/2025-12-24/us-regulator-targets-foreign-drones-threatening-future-dji-models-102396575.html
7 days ago
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Funny article about an "increasingly fierce" global competition in "police dog technology".
www.reuters.com/world/asia-p...
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From Alsatians to autonomy: China seeks home-grown edge in police dogs
China's national security authorities are urging police across the country to favour the use of a home-grown dog breed over German Shepherds, Rottweilers, Malinois and Springer Spaniels, as Beijing re...
https://www.reuters.com/world/asia-pacific/alsatians-autonomy-china-seeks-home-grown-edge-police-dogs-2025-12-19/
7 days ago
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Interesting short piece by Carolyn Sissoko on the institutional role of banks in a credit economy.
add a skeleton here at some point
8 days ago
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For my friends in Beijing, this evening we're putting on an especially good show in our weekly series, with performance by Yan Yulong, Yan Jun and Zhang Shouwang, three of the best-known experimental musicians in China.
8 days ago
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1/11 WSJ: "The number of ride-hailing drivers in China tripled to 7.5 million in the four years to 2024, even though the number of rides grew only by about 60% during the same period, government data shows."
www.wsj.com/world/asia/1...
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14-Hour Shifts and $1 a Delivery—but China’s Army of Gig Workers Keeps Growing
In a country once known for its factory workforce, some 200 million people are turning to informal roles as job creation slows.
https://www.wsj.com/world/asia/14-hour-shifts-and-1-a-deliverybut-chinas-army-of-gig-workers-keeps-growing-81ce58e4?st=Zp197X
10 days ago
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Yicai: "Beijing has reaffirmed plans to increase the state-funded basic pension with the aim of strengthening social security and boosting consumption. The monthly pension for rural residents should be doubled to around CNY500 to CNY600 by 2035."
www.yicaiglobal.com/news/china-p...
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China Reaffirms Plans to Increase Basic Pension
https://www.yicaiglobal.com/news/china-pledges-to-further-raise-pensions-for-all-residents
11 days ago
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1/4 Caixin: "At the conclusion of the Central Economic Work Conference in December, the CCP unveiled a blueprint for 2026 that signals deep-seated structural problems, from industrial overcapacity to persistent deflationary pressures."
www.caixinglobal.com/2025-12-19/i...
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In Depth: China Unveils More Nuanced Economic Plan for 2026
By highlighting ‘quality and efficiency,’ the Central Economic Work Conference reinforces a move away from the country’s old playbook of debt-fueled investment as it prepares to kick off its 15th Five...
https://www.caixinglobal.com/2025-12-19/in-depth-china-unveils-more-nuanced-economic-plan-for-2026-102394995.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pKmqdjkahHvdVAMlB1OOqfbw%3D%3D&cxg=web&Sfrom=twitter
11 days ago
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Xinhua: ""Expanding domestic demand has been identified as the top priority task for China's economic work in 2026, with a focus on promoting a better match between supply and demand."" Belated recognition that boosting supply doesn't resolve weak demand?
english.news.cn/20251219/2f0...
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Economic Watch: Structural upgrading, policy support in China's consumption sector set to fuel long-term growth
https://english.news.cn/20251219/2f04a0eb22f74ccbb3c946216aaa7c49/c.html
11 days ago
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1/2 Bloomberg: "The share of Chinese bonds with maturities beyond 10 years has climbed to around 31% of outstanding central and local government debt, the highest level in a decade and up from a low of 11.6% in 2018."
www.bloomberg.com/news/article...
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China’s Growing Pile of Long-Term Debt to Deepen Pricing Stress
China is issuing a greater proportion of longer-maturity sovereign debt to secure financing, but the increase in supply risks pushing up yields and weighing on already-weakening demand.
https://www.bloomberg.com/news/articles/2025-12-17/china-s-growing-pile-of-long-term-debt-to-deepen-pricing-stress
12 days ago
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1/2 China Banking News: "Economists such as Brad Setser have long asserted that the renminbi is massively undervalued, leading to huge trade imbalances and China’s accumulation of a massive current account surplus. Leading economists within China have...
open.substack.com/pub/chinaban...
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China needs to strategically revalue the renminbi to achieve global tech and monetary dominance: Lian Ping
Appreciation of the Chinese currency viewed as economically inevitable.
https://open.substack.com/pub/chinabankingnews/p/china-needs-to-strategically-revalue?utm_campaign=post-expanded-share&utm_medium=web
13 days ago
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1/2 FT: "Brazilian president Luiz Inácio Lula da Silva has threatened to walk away from a blockbuster trade deal with the EU after key countries asked Brussels to delay a vote to approve the agreement."
www.ft.com/content/f147...
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Lula threatens to walk away from EU-Mercosur trade deal
Warning comes after Italy and France pushed to delay vote on landmark agreement with South American nations
https://www.ft.com/content/f1476035-4ffb-4a30-90a2-058b44553095
13 days ago
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1/4 Interesting opinion piece in Caixin by two CCB analysts: "China’s headline credit figures appear stable, but a look beneath the surface reveals an alarming trend: the engine of organic economic growth is...
www.caixinglobal.com/2025-12-17/c...
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Commentary: Beijing Needs a Two-Pronged Policy to Revive Investment
Fiscal policy should act as capital to jump-start projects, while monetary policy must make borrowing more attractive for companies and households to reverse a worrying economic slide
https://www.caixinglobal.com/2025-12-17/commentary-beijing-needs-a-two-pronged-policy-to-revive-investment-102394298.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pKmqdjkahHvdUsENTO5AYRRg%3D%3D&cxg=web&Sfrom=twitter
13 days ago
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1/10 President Macron says "We must acknowledge that these imbalances are both the result of weak EU productivity and China’s policy of export-driven growth." The first part of that statement is technically not true.
www.ft.com/content/c8fd...
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We urgently need to rebalance EU-China relations
Resolving serious trade imbalances will require co-operation and co-ordinated action
https://www.ft.com/content/c8fdf1b0-7330-491e-a8b4-f4b29f6a3cd0
14 days ago
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1/5 SCMP: "Beijing’s fresh imperative to “invest in people” – reaffirmed at an agenda-setting policy meeting last week – reflects a rethink in economic strategy designed to stimulate domestic demand and improve social welfare."
www.scmp.com/economy/chin...
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‘Invest in people’: how a new slogan signals a pivot in China’s economic policy
Beijing is expected to strengthen investment in welfare, pensions, education and other public services to unleash domestic demand, analysts say.
https://www.scmp.com/economy/china-economy/article/3336651/chinas-new-invest-people-slogan-heralds-rethink-economic-strategy?module=top_story&pgtype=section
14 days ago
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1/2 Xinhua: "Expanding domestic demand will be the top priority of China's economic policy in 2026. Policies will be rolled out to boost consumption through both the supply and demand sides. Efforts will also be made to reverse the decline in investment."
english.news.cn/20251216/314...
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Expanding domestic demand a top priority in 2026: Chinese economic official
https://english.news.cn/20251216/314dde0f2b6d458490808a76fadd191b/c.html
14 days ago
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reposted by
Michael Pettis
Tony Tassell
15 days ago
Europe has no choice but to intervene on its external accounts to counter trade intervention abroad, argues
@michaelpettis.bsky.social
here. Policymakers must distinguish between domestic conditions that hamper efficiency and those that undermine competitiveness
www.ft.com/content/da6d...
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Europe has no choice but to intervene on trade
The region must make a distinction between inefficiency and a lack of global competitiveness
https://www.ft.com/content/da6d44de-c4c4-42f5-8ee9-6ca6a78cf478
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Bloomberg: "Policymakers meeting last week pledged to stop the decline in investment, with Xi also calling for heightened attention to the issue. Authorities could push for more big infrastructure projects next year to stabilize growth."
www.bloomberg.com/news/article...
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China’s Consumer Frailty Leaves Economy Exposed to Trade Jitters
China’s investment slumped further and retail sales expanded at their weakest pace since the crash caused by Covid, in another month of lopsided growth that’s inflaming trade tensions with the rest of...
https://www.bloomberg.com/news/articles/2025-12-15/china-s-retail-sales-weaken-to-worst-since-covid-as-growth-slows
15 days ago
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1/2 Caixin: "Zhejin’s trouble may date back years. People with knowledge told Caixin that following the 2018 default of Shanghai-based CEFC China Energy Co. Ltd., billions of yuan in outstanding products were left on Zhejin’s books."
www.caixinglobal.com/2025-12-16/c...
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China Probes $2.8 Billion Freeze at Zhejiang Asset Exchange
Wealth product defaults at state-approved exchange trigger government intervention and investigation into issuer Sunriver as investor funds remain frozen
https://www.caixinglobal.com/2025-12-16/china-probes-28-billion-freeze-at-zhejiang-asset-exchange-102393676.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pKjk8wUrMLGM9hSNvtyqeqLQ%3D%3D&cxg=web&Sfrom=twitter
15 days ago
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1/4 Yicai: "China’s Inner Mongolia overtook the northeastern provinces of Heilongjiang, Liaoning and Jilin in 2023 to become the provincial-level region with the oldest labor force in the country, as the young seek better opportunities elsewhere."
www.yicaiglobal.com/news/inner-m...
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https://www.yicaiglobal.com/news/inner-mongolia-becomes-chinese-region-with-oldest-workforce-amid-young-exodus
15 days ago
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While overall retail sales grew 4.0% year on year during the first eleven months of 2025, retail sales of services grew much faster, by 5.4%. This is probably a good thing for employment as services tend to be more labor intensive
www.yicaiglobal.com/news/chinas-...
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China’s Consumer Sales Growth Slows for Sixth Month in a Row as Services Consumption Gains
https://www.yicaiglobal.com/news/chinas-consumer-goods-consumption-grows-slower-for-six-straight-month-but-service-consumption-rise-faster
15 days ago
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Xinhua: "In the January-November period, the number of railway passenger trips reached 4.28 billion across the country, up 6.6 percent from the same period last year, according to China State Railway Group."
english.news.cn/20251216/455...
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China's railway passenger trips hit new record in first 11 months
https://english.news.cn/20251216/4555e8724a8a4b9a8d521b6014c2ec2a/c.html
15 days ago
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In my latest piece for the FT, I argue that conditions that make European manufacturing inefficient are not the same as conditions that make European manufacturing globally uncompetitive. As an aside, this is an especially relevant distinction for Germany.
www.ft.com/content/da6d...
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The key distinction Europe must make on trade policies
The region must be clear on the difference between inefficiency and a lack of global competitiveness
https://www.ft.com/content/da6d44de-c4c4-42f5-8ee9-6ca6a78cf478
15 days ago
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1/8 It's hard to find anything good in the November economic data for China, just as it is hard to find anything new to say. All the important indicators continue to weaken, as they have throughout the year, in some cases even decelerating further.
english.news.cn/20251215/a59...
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China's industrial output up 4.8 pct in November
https://english.news.cn/20251215/a59154fb8e834f6bbd1db73f622f94a3/c.html
16 days ago
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Yicai: "China will further reduce the number of small and medium-sized financial institutions and improve their quality next year, as part of broader efforts to prevent financial risks and deepen reforms in the capital market."
www.yicaiglobal.com/news/chinas-...
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China to Further Pare Smaller Financial Service Providers, Boost Their Quality in 2026
https://www.yicaiglobal.com/news/chinas-central-economic-work-conference-highlights-reduce-quantity-improve-quality-for-smaller-lenders
17 days ago
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1/6 Yicai: "The stabilization and recovery of investment was one of the key economic tasks for next year laid out at the Chinese government’s Central Economic Work Conference."
www.yicaiglobal.com/news/china-s...
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China Pledges to Drive Investment to Achieve Steady Growth And Recovery in 2026
https://www.yicaiglobal.com/news/china-sets-investment-stabilization-recovery-as-top-priority-for-2026
18 days ago
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1/6 Very interesting Caixin article on how the Big Four AMCs, badly hurt by falling real estate prices and weak NPL resolution, are buying bank stocks and recognizing the gap between their prices and their higher book values as paper profits.
www.caixinglobal.com/2025-12-12/i...
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In Depth: China Bad-Debt Managers’ Bet on Bank Stocks Could Backfire
‘Big Four’ asset management companies have each taken large stakes in major lenders, allowing them to use accounting magic to book instant profits
https://www.caixinglobal.com/2025-12-12/in-depth-china-bad-debt-managers-bet-on-bank-stocks-could-backfire-102392755.html?rkey=pAgjKe3ecjLgzOlntW1lHvFL%2FE7ci4pKbZH8Y6pjPPO05GaD8r9dZg%3D%3D&cxg=web&Sfrom=twitter
18 days ago
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1/2 September saw a second monthly decrease in the US trade deficit. It is too early to say, and the data may have been distorted by gold sales (which should probably be treated more as a capital account transaction than...
www.bloomberg.com/news/article...
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US Trade Deficit Unexpectedly Shrinks to Smallest Since 2020
The US trade deficit unexpectedly narrowed in September to the smallest since mid-2020 as exports surged.
https://www.bloomberg.com/news/articles/2025-12-11/us-trade-deficit-unexpectedly-shrinks-to-smallest-since-2020?srnd=phx-economics-v2
19 days ago
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Bloomberg: "The result could be the biggest rethink of EU policy toward Beijing in at least a decade." I've been to Europe four times since October for government or government-related meetings, and all anyone wanted to discuss was trade.
www.bloomberg.com/news/article...
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China Forces Reckoning in Europe as Trade Boom Turns Existential
China’s exports are putting it on a collision course with Europe.
https://www.bloomberg.com/news/articles/2025-12-12/china-forces-reckoning-in-europe-as-trade-boom-turns-existential?srnd=homepage-americas
19 days ago
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