Ebook171 pages3 hours
Avoiding the Fall: China’s Economic Restructuring
Rating: 4.5 out of 5 stars
4.5/5
()
About this ebook
Beijing has no choice but to take significant steps to restructure its economy. The only question is how to proceed.
LanguageEnglish
Release dateSep 8, 2010
ISBN9780870034084
Related to Avoiding the Fall
Related ebooks
The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy - Updated Edition Rating: 5 out of 5 stars5/5The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy Rating: 5 out of 5 stars5/5The Asian Financial Crisis 1995–98: Birth of the Age of Debt Rating: 5 out of 5 stars5/5The Economics of Enough: How to Run the Economy as If the Future Matters Rating: 0 out of 5 stars0 ratingsRed Capitalism: The Fragile Financial Foundation of China's Extraordinary Rise Rating: 4 out of 5 stars4/5The China Nightmare: The Grand Ambitions of a Decaying State Rating: 0 out of 5 stars0 ratingsSuperfusion: How China and America Became One Economy and Why the World's Prosperity Depends on It Rating: 5 out of 5 stars5/5States and the Reemergence of Global Finance: From Bretton Woods to the 1990s Rating: 3 out of 5 stars3/5Pursued Economy: Understanding and Overcoming the Challenging New Realities for Advanced Economies Rating: 0 out of 5 stars0 ratingsFighting Financial Crises: Learning from the Past Rating: 0 out of 5 stars0 ratingsThe China Questions: Critical Insights into a Rising Power Rating: 0 out of 5 stars0 ratingsThe Forgotten Depression: 1921: The Crash That Cured Itself Rating: 4 out of 5 stars4/5The China Boom: Why China Will Not Rule the World Rating: 0 out of 5 stars0 ratingsSummary of Elizabeth C. Economy's The World According to China Rating: 0 out of 5 stars0 ratingsThe Fall of the Euro: Reinventing the Eurozone and the Future of Global Investing Rating: 0 out of 5 stars0 ratingsEconomic Interdependence and War Rating: 0 out of 5 stars0 ratingsHow Big Should Our Government Be? Rating: 0 out of 5 stars0 ratingsGeopolitical Alpha: An Investment Framework for Predicting the Future Rating: 0 out of 5 stars0 ratingsThe Holy Grail of Macroeconomics: Lessons from Japan's Great Recession Rating: 4 out of 5 stars4/5Disequilibrium: How America's Great Inflation Led to the Great Recession Rating: 4 out of 5 stars4/5The Other Half of Macroeconomics and the Fate of Globalization Rating: 0 out of 5 stars0 ratingsEconomic Policy and the Great Stagflation Rating: 5 out of 5 stars5/5The Bridge: Natural Gas in a Redivided Europe Rating: 4 out of 5 stars4/5The Euro and the Battle of Ideas Rating: 4 out of 5 stars4/5The End of the Everything Bubble: Why $75 trillion of investor wealth is in mortal jeopardy Rating: 4 out of 5 stars4/5Stabilizing an Unstable Economy Rating: 0 out of 5 stars0 ratingsThe Fed Unbound: Central Banking in a Time of Crisis Rating: 0 out of 5 stars0 ratingsCapital Wars: The Rise of Global Liquidity Rating: 0 out of 5 stars0 ratings
Business Development For You
Good to Great: Why Some Companies Make the Leap...And Others Don't Rating: 4 out of 5 stars4/5Capital in the Twenty-First Century Rating: 4 out of 5 stars4/5Built to Last: Successful Habits of Visionary Companies Rating: 4 out of 5 stars4/5Vivid Vision: A Remarkable Tool for Aligning Your Business Around a Shared Vision of The Rating: 4 out of 5 stars4/5Summary of Graham Cochrane's How to Get Paid for What You Know Rating: 0 out of 5 stars0 ratingsUltralearning: Master Hard Skills, Outsmart the Competition, and Accelerate Your Career Rating: 4 out of 5 stars4/5Doughnut Economics: Seven Ways to Think Like a 21st-Century Economist Rating: 4 out of 5 stars4/5How to Start a Business for Beginners: A Complete Guide to Building a Successful & Profitable Business Rating: 5 out of 5 stars5/5The Hard Truth About Soft Skills: Soft Skills for Succeeding in a Hard Wor Rating: 3 out of 5 stars3/5The Bezos Letters: 14 Principles to Grow Your Business Like Amazon Rating: 5 out of 5 stars5/5The 30 Laws of Flow: Timeless Principles for Entrepreneurial Success Rating: 5 out of 5 stars5/5Nolo’s Guide to Single-Member LLCs: How to Form & Run Your Single-Member Limited Liability Company Rating: 0 out of 5 stars0 ratingsThe E-Myth Contractor: Why Most Contractors' Businesses Don't Work and What to Do About It Rating: 4 out of 5 stars4/5Rocket Fuel Rating: 0 out of 5 stars0 ratingsThe Rise of the Rest: How Entrepreneurs in Surprising Places are Building the New American Dream Rating: 5 out of 5 stars5/5Business Plan Checklist: Plan your way to business success Rating: 5 out of 5 stars5/5The $100 Startup by Chris Guillebeau: Summary and Analysis Rating: 4 out of 5 stars4/5The Small Business Start-Up Guide: A Surefire Blueprint to Successfully Launch Your Own Business Rating: 5 out of 5 stars5/5Robert's Rules of Order: A comprehensive guide to Robert’s Rules of Order Rating: 5 out of 5 stars5/5This Shit Works: A No-Nonsense Guide to Networking Your Way to More Friends, More Adventures, and More Success Rating: 0 out of 5 stars0 ratingsFear Less: Face Not-Good-Enough to Replace Your Doubts, Achieve Your Goals, and Unlock Your Success Rating: 5 out of 5 stars5/5The Second in Command: Unleash the Power of Your COO Rating: 0 out of 5 stars0 ratingsGood To Great And The Social Sectors: A Monograph to Accompany Good to Great Rating: 4 out of 5 stars4/5The Crash Course: The Unsustainable Future of Our Economy, Energy, and Environment Rating: 5 out of 5 stars5/5Don't Trust Your Gut: Using Data to Get What You Really Want in LIfe Rating: 3 out of 5 stars3/5
Reviews for Avoiding the Fall
Rating: 4.333333333333333 out of 5 stars
4.5/5
3 ratings1 review
- Rating: 4 out of 5 stars4/5In many ways the argument this book makes about China's economy is now conventional--its growth has been fueled by investment, the investment is funded through financial repression that results in an extremely low consumption share of national income, much of the investment is misallocated in part because of the scale and in part because of the poor incentives and mispricing, it will inevitably have to rebalance--a process that could be rapid/disorderly or managed/orderly. The upside is that while China will slow dramatically in the rebalancing process, the shift towards consumption will partially offset that slowing and insulate the household sector. The downside is that notwithstanding this the most benign forms of rebalancing are politically threatening and thus, in Michael Pettis's view, unlikely to occur. The story Pettis tells would all cohere even if China was a closed economy--much of it is about domestic savings and its allocation to domestic investment--although it also has a substantial international component that will affect the global economy.
What makes Pettis's book so striking is when he puts his arguments to the test--predicting that China will grow at a 3-4 percent annual rate in the coming decade. This puts him numerically below many of the other China bears even if his qualitative arguments are similar.
Some of the argumentation in the book is overly breathless for my taste, especially around global rebalancing. And much of it makes it sound like Pettis has invented some of the more basic concepts. But overall it is an interesting, provocative and timely take on China's economy.
Book preview
Avoiding the Fall - Michael Pettis
Enjoying the preview?
Page 1 of 1