Episode Details
| Title | China Is Exporting Unemployment | Michael Pettis on Global Trade Imbalances, American Capital Controls, and the End of The Chinese Growth Miracle |
|---|---|
| Date | 7/18/2024 |
| Podcast | Forward Guidance ↗ |
Key Insights
Bullish:
- 🟢 $US Manufacturing Sector - The US is making significant efforts to rebalance its economy and support strategically important industries.
- “The US is making really major efforts to sort of rebalance its own economy... to end its role of the great absorber of, of of last resort of global excess savings.” - Michael (0:00)
- “The Biden administration has done very successfully... support strategically important industries.” - Michael (0:00)
- 🟢 $US Domestic Manufacturing (e.g., EVs) - 🔒
Bearish:
- 🔻 $Chinese Real Estate Sector - 🔒
- 🔻 $Chinese Local Government Debt - 🔒
- 🔻 $Chinese Consumption Growth - 🔒
- 🔻 $Chinese Stock Market - 🔒
- 🔻 $Chinese Banking System - 🔒
- 🔻 $Chinese Imports - 🔒
- 🔻 $Chinese Retail Sales - 🔒
- 🔻 $Chinese Trade Surplus - 🔒