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Michael Pettis

Affiliation: Peking University

Michael Pettis is a professor at Peking University's Guanghua School of Management, where he specializes in Chinese financial markets. He has also taught, from 2002 to 2004, at Tsinghua University’s School of Economics and Management and, from 1992 to 2001, at Columbia University’s Graduate School of Business.

Pettis has worked on Wall Street in trading, capital markets, and corporate finance since 1987, when he joined the Sovereign Debt trading team at Manufacturers Hanover (now JP Morgan). Most recently, from 1996 to 2001, Pettis worked at Bear Stearns, where he was Managing Director-Principal heading the Latin American Capital Markets and the Liability Management groups.

Visit: China Financial Markets




Michael Pettis's Latest Articles | 141

Europe’s Depressing Prospects

May 18, 2012| 

Normally I don’t like to write about European prospects in the midst of a very rough patch in the market because in that case there isn’t much I can say that... Read »

How can China Rebalance?

Apr 9, 2012| 

No matter how sincere its intentions, what Beijing says it will do over the next few years is meaningful only if its policies are both internally consistent and... Read »

The Japan Debt Disaster and China’s (non)Rebalancing

Mar 20, 2012| 

In this issue of the newsletter I want to sketch out a scenario in which rather than analyze policy announcements or make predictions I try to lay out what are the... Read »

The World Bank Proposes Tough Medicine for China

Mar 10, 2012| 

Contrary to some recent research reports cited in the press I do not think we have seen any substantial rebalancing of the economy towards consumption in 2011. ... Read »

When Will China Emerge from the Global Crisis?

Feb 22, 2012| 

Before getting to the policy debate, I want to mention that in late January Caixin, one of my favorite magazines, had an interview with Liu Mingkang, former China... Read »

Building Debt

Jan 24, 2012| 

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... Read »

Time to Devalue the RMB?

Jan 9, 2012| 

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... Read »

China: Exports are Suffering, Growth is Slowing

Dec 17, 2011| 

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... Read »

How Do We Know that China is Overinvesting?

Dec 3, 2011| 

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... Read »

Will Greece Unravel by Christmas?

Nov 22, 2011| 

In China economists are watching the spectacle in Europe, China’s largest export market, with rising dread. Might European deterioration affect Chinese growth?... Read »

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