Friday, December 11, 2009

Scary Words

. Friday, December 11, 2009

From Michael Pettis:

The Chinese financial system, I would argue, is less liberalized, and certainly less efficient, today than it was one year ago and even five years ago.

Much more at the link.


Emmanuel said...

Perhaps it's just Michael "Deficit Attention Disorder" Pettis trying to reinvent himself.
What's scary IMHO is someone demonstrating this level of inexplicable inconsistency being treated as a China guru. Some of us have longer memories.

Kindred Winecoff said...

Indeed you do. Kudos.

OTOH, is there something wrong with his actual analysis, or are you just playing 'Gotcha'? He's not the only one concerned about Chinese markets faltering from rising NPLs.

Scary Words
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