Tag: Michael Pettis

Growth and Rebalancing: Jan Kregel on China’s Economy

Growth and Rebalancing: Jan Kregel on China’s Economy

The upheaval in Chinese interbank markets last week has prompted many to take a closer look at growth drivers and credit dynamics in China. Recent events have not come as a surprise to all, however. Some noted fund managers, such as Hugh Hendry and Jim Chanos, have been highly skeptical of the “China as the engine of global growth” […]

Tremors in the Chinese (Shadow) Banking system

Tremors in the Chinese (Shadow) Banking system

In a white paper published earlier this year, asset manager GMO argued that China’s credit and banking system is looking increasingly fragile. A key point made by the authors is that China has experienced de facto liberalisation of its financial sector, which, for decades, has been under tight state control. The explosion of the shadow banking […]