简介：china's financial and monetary links to the world

原站：http://mpettis.com

“China Financial Markets”的内容更新

累计：49 篇（自 2009-06-10 起）

更新：约1篇/月，最后更新26 天前

China Financial Markets

Building debt

before starting on the subject of debt i wanted to make a quick reference to something sent to me by charles horner, a senior fellow at the hudson institute.? i am glad to say that the overinvestment thesis is much more widely acknowledged today than it was even two or three years ago, but one myth, i think, is that most of the overinvestment excesses in... (26 天前)

http://inezha.com/w/hsi6qoe

China Financial Markets

If no trade reversal now, then when?

europe’s underlying problem is not budget deficits or even unsustainable debt.? these are mainly symptoms.? the real problem with europe is the huge divergence in costs between the core and the periphery – in the past decade costs between germany and some of the peripheral countries have diverged by anywhere from 20% to 40%.? this divergence has made t... (41 天前)

http://inezha.com/w/g17k9oj

China Financial Markets

Lots of news, signifying nothing new

two weeks ago on wednesday night, after the chinese markets closed, the people’s bank of china announced that it had cut the minimum reserve requirement by 50 basis points to 21% for the large banks, and lower for the smaller banks.? with the announcement coming just hours before announcements by the fed, the ecb and the central banks of the uk, switzer... (64 天前)

http://inezha.com/w/uelcoo3

China Financial Markets

How do we know that China is overinvesting?

for years i have been arguing that the achilles heel of the chinese growth model is the unsustainable rise in debt that comes as a necessary consequence of capital misallocation fueled by bank lending.? capital misallocation, i argued, was the nearly inevitable consequence of high investment growth over many years in a system in which price signals are s... (77 天前)

http://inezha.com/w/zhiqxog

China Financial Markets

Will Greece unravel by Christmas?

much of the latest issue of the newsletter, sent out two weeks ago, was on disaggregating the trading performance of the rmb to separate market sentiment from pboc actions, but since this was pretty technical stuff i am not including it in this blog entry. ?this means that once again most of the current entry will be on europe — a topic from?w... (89 天前)

http://inezha.com/w/qb7bg37

China Financial Markets

Germany must do it, not China

i have already discussed last month why i think the desperate attempts by europe to get china and other asian and bric countries to bail out the weak sovereign borrowers is absurd, but the topic has become so important in the past two weeks, at least judging by the number of calls i have received from journalists, that i thought i would reproduce a discu... (102 天前)

http://inezha.com/w/2qlhe34

China Financial Markets

Expect a lot more trade intervention

last week’s senate bill on chinese currency intervention predictably enough brought out all the same old arguments about international trade, and just as predictably has hardened the opposing positions in the debate. ?unfortunately the difference between a good outcome, intelligently negotiated, and a bad outcome, is pretty large, but with each side har... (102 天前)

http://inezha.com/w/8cidq3w

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