Michael Pettis Made 12 Predictions 2 Years Ago; Here’s the Scoreboard
When China's economy was booming people wondered whether a slowdown would lead to social unrest, and the consensus was that problems could crop up at around 8 percent GDP growth. Now that growth has fallen below that number, some people are writing off the whole idea, but as Michael Pettis explains in a recent newsletter sent to ValueWalk, GDP growth might be the wrong stat to be looking at. “Ordinary Chinese . . .
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