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Reading Michael Pettis: "Common Prosperity" vs. "Dual Circulation" [Ep. 133, Macropiece Theater]
Beijing knows it wants to discontinue the country’s existing, unsustainable growth model. The latest "Common Prosperity" policy will only shift domestic demand at the margins; a full-fledged rebalancing will require a more radical transformation. A reading, by Emil Kalinowski.
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Michael Pettis, Finance Professor at Peking University and Senior Fellow at Carnegie-Tsinghua Center, specializes in Chinese financial markets, economic history, global capital flows and the relationship between different sectors of national economies. Read by Emil Kalinowski. Art by David…
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