China May Need Fiscal Help to Boost Consumers, Pettis Says

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  • čas přidán 10. 03. 2024
  • Michael Pettis, senior fellow at Carnegie Endowment for International Peace, explains why Chinese officials may need to consider direct support to households in order to spur economic growth.
    For more on this story, please see: www.bloomberg.com/news/articl...

Komentáře • 67

  • @zaozhang1332
    @zaozhang1332 Před 4 měsíci +19

    He is by far the best China Macro Economist.

    • @MetaView7
      @MetaView7 Před 4 měsíci +1

      LOL

    • @lukehua5989
      @lukehua5989 Před 4 měsíci +1

      dude, he has no chance to sell his "wealth transfer" plan to Chinese

  • @HKim0072
    @HKim0072 Před 4 měsíci +11

    Always liked how Pettis describe things.

  • @lastChang
    @lastChang Před 4 měsíci +10

    Providing direct support to households to save Chinese economy
    is like throwing a cup of water on the forest fire.

    • @ssuwandi3240
      @ssuwandi3240 Před 4 měsíci

      Time for Refugee Chang to go home. Humanitarian visas wouldn't last with that Extremists attitude

    • @krawk8838
      @krawk8838 Před 4 měsíci +4

      imagine using this theory on the us economy its like putting on a plaster to cure cancer

    • @AhmetTekin101
      @AhmetTekin101 Před 4 měsíci +7

      ​@@krawk8838It's a reality that the Chinese economy is in a mess, the US is not.

    • @seymorefact4333
      @seymorefact4333 Před 4 měsíci

      US socialist regime bailout the bankers and 1% ALWAYS! BRAVO CHINA for not playing to the speculators! BRAVO! USA HAS $36T DEFICIT because of ALL THE BAILOUTS!

    • @zhanjas
      @zhanjas Před 4 měsíci +3

      @@AhmetTekin101are you sure?

  • @user-nt4gf6to5n
    @user-nt4gf6to5n Před 4 měsíci +2

    Property bottom. What a joke!😂😂😂😂

  • @jerryrichardson2799
    @jerryrichardson2799 Před 4 měsíci +5

    Pettis telling it like it is, thanks.

  • @user-yy9hk9od9u
    @user-yy9hk9od9u Před 4 měsíci +2

    Too late for that.

  • @shawnsmith524
    @shawnsmith524 Před 4 měsíci +3

    millions people lost there life saveings investing to the houseing market the chinese dream failed them many are fleeing to other countrys to start new life after they lost everything

  • @ssuwandi3240
    @ssuwandi3240 Před 4 měsíci +1

    He conveniently skipped the 3% deficit fiscal stumulated policies

  • @ArabicReja973
    @ArabicReja973 Před 4 měsíci +4

    Stimulus = borrow, print more money + give it to the needy --> pay more interest + lower credit rating.

  • @relax-ie3mp
    @relax-ie3mp Před 4 měsíci

    No battery degradation under -60C. Impressive!

  • @jacquesmassard9226
    @jacquesmassard9226 Před 4 měsíci +1

    Keyboard warriors out in force i see😅

  • @louistan7560
    @louistan7560 Před 4 měsíci +3

    Notice his hands. People who try to impress does that.

    • @HKim0072
      @HKim0072 Před 4 měsíci +2

      lol, didn't go to college / university? What professor DOESN'T use their hands when lecturing?

  • @ktktktktktktkt
    @ktktktktktktkt Před 4 měsíci

    0:36 "The Non-productive direction of infrastructure spending" I thought infrastructure normally resulted in productivity. Is he referencing the idea that China is spending on infrastructure for the sake of jobs and not because it will actually be used by people?

    • @Andy-P
      @Andy-P Před 4 měsíci

      Yes that is what he means

  • @Palerider2023
    @Palerider2023 Před 4 měsíci +4

    These people are about a usefull as a screen door on a submarine. About as knowledgable as a cantaloupe.

    • @MetaView7
      @MetaView7 Před 4 měsíci

      It is funny listening to advice given by ppl whose country is $34 trillion dollars in debt. This works out to each citizen young and old owing US$100k !!!

    • @Palerider2023
      @Palerider2023 Před 4 měsíci

      @@MetaView7 congrats! You saw a post going around the internet now you sound intelligent!

    • @MetaView7
      @MetaView7 Před 4 měsíci

      @@Palerider2023 thank you for reading my comment, and thank you for taking the time to make a reply. Your effort is much appreciated.

  • @waltertodd4479
    @waltertodd4479 Před 4 měsíci +2

    So you want to help the CCP, who hates the usa and actively plots our demise??? Does anyone else have issue with this thought?

    • @mikewallace8087
      @mikewallace8087 Před 4 měsíci

      Yes, I do.

    • @MetaView7
      @MetaView7 Před 4 měsíci

      they never hate. They are traders, not warriors. They want US to do well so that they can do more trades.
      Win-Win Cooperation is their principle.

  • @theephemeralglade1935
    @theephemeralglade1935 Před 4 měsíci

    "May", lol.

  • @susss188
    @susss188 Před 4 měsíci +3

    Talk about India or US please.

    • @bhavikshah5016
      @bhavikshah5016 Před 4 měsíci

      Dont expect that from Bloomberg... They get a big cut from CCP to keep on ranting about China... that's all Bloomberg does.. Watch CNBC instead for US markets

    • @amunra5330
      @amunra5330 Před 4 měsíci

      What is there to talk about? India is a shit country and the US is collapsing

  • @harriemeeuwis978
    @harriemeeuwis978 Před 4 měsíci +2

    Why is he wrong? He forgets two things. First: China can compete at lower costs with high end manufacturing. They have an abundance of technical University graduates. So by pushing other (western) countries out of the global market. Second: they can and will produce an enormous amount of military equipment. That's how the US produced itself out of a deep recession in WW2 according to the economist Michael Wolf. So no fiscal stimulus needed. And those were the two main issues of the peoples congres. High end manufacturing and security.

  • @jackjhmc820
    @jackjhmc820 Před 4 měsíci

    Can China do QE to combat deflation?

    • @MetaView7
      @MetaView7 Před 4 měsíci

      They don't need to. They are doing just fine. Thank you very much.

  • @mikewallace8087
    @mikewallace8087 Před 4 měsíci +1

    We are here because the corporate greed is too severe, destroying the customer's income to the place where there are few people able to buy their goods . CRASH !

  • @posthocprior
    @posthocprior Před 4 měsíci +1

    There’s another way, not mentioned, support market based innovation. The Chinese government spends a lot to develop industries. Specifically, it chooses established industries, such as solar panels, and decides to develop the infrastructure around it. Presently, it’s spending heavily on quantum computing technologies. This is an approach that depends on defining what the market has already set as what is in demand. The focus could be instead on finding new technologies or developing innovative companies. So, rather than the Chinese government picking which industries to invest in, it could fund institutions that help develop ideas that foster innovative companies.

    • @HKim0072
      @HKim0072 Před 4 měsíci

      Damn dude. Learn how to shorten your point into something more concise. You literally could have said that in 1 or 2 sentences.
      And, no. CCP is the brain. People are just mindless bodies to execute the Supreme Leaders wishes. Get real.

    • @Andy-P
      @Andy-P Před 4 měsíci +1

      He does mention this. If China makes more the rest of the world has to make less

    • @posthocprior
      @posthocprior Před 4 měsíci +1

      @@Andy-P My assumption was that he was referring to low-wage manufacturing. I'm not.

    • @slobodanblazeski0
      @slobodanblazeski0 Před 3 měsíci +2

      @@posthocprior He doesn't care about the sector, his point is that developed world won't accept China surpluses, neither would countries such us Brazil, India & Turkey that want their own manufacturing, The rest of the world doesn't is either too poor, or too small.

  • @skydragon23101979
    @skydragon23101979 Před 4 měsíci +1

    It doesn’t matter what Japan, Europe, US or India wants China would increase manufacturing if the consumers buy Chinese goods around the world and I mean the global south here mainly.

  • @lil----lil
    @lil----lil Před 4 měsíci

    Call Alan Greenspan for Help!

  • @SonjaBlackall-qb1nb
    @SonjaBlackall-qb1nb Před 4 měsíci

    Why help they ,ll only bite the hand that fed them. !! 😮

  • @windsong3wong828
    @windsong3wong828 Před 4 měsíci +5

    China is in the same boat as the rest of ASEAN.
    Business is humdrum…..not great not bad.
    Property prices and rents are about 2019 level.
    The world economy is not great so it affects most economies.
    China should just do some infrastructure projects and that will boost the gdp and bring it across the 5% mark.
    The privilege of having saved lots of monies during the good times.
    China should expect the western media to keep talking its stock mart down ….be strong .
    As Warren Buffet say …in the short term the stock mart is a beauty contest, in the long run it is a weighing contest.
    China fundamentals are OK.
    Let the USA decouple from China.
    It is a lose lose….both the American and chinese companies will SUFFER.
    Nike, Boeing, Starbucks , Disney , etc will all trend down in the medium term.

    • @happymelon7129
      @happymelon7129 Před 4 měsíci +1

      100% correct

    • @ssuwandi3240
      @ssuwandi3240 Před 4 měsíci

      This dude doesn't even touch on China's global infrastructure. Very different to a global manufacturing style like Japan.

  • @MrKeyman2002
    @MrKeyman2002 Před 4 měsíci

    China does not need more fiscal deficits and fiscal deficits were never meant to be used to boost consumption, and consumption had never ever been sustained. Looking at the Chinese economy with "free market lenses" will always miss the real China....Command economy and free-market economy have different genes.............