And Now for the Hard Part: China's Economic Adjustment After Three Miracle Decades - Michael Pettis

[@thesheepthemightythecrazy]

this is one fucking awesome lecture. thanks for posting this video.

[@Dreadwolf3155]

Totally agree

[@JoachimderZweite]

Erudition - say what?

[@2009worstyearever]

Pettis starts at 4:45

[@huiyichen6554]

As a Chinese I agree with 90% what was said. I know partial privatization needs to happen for deleverage to be successful but, it would not happen, because enough concentration of power could only truly be achieved in a crisis. That means, privatization would happen in a crisis rather than in a reform

[@dattape2828]

Power to the People! More internal corruption equates to cheaper coffee makers! And boy, do we need more coffee makers! That means, we need more brave tank stoppers like the only brave soul from Tiananmen Square to root out the rats in the system. What? Some country hates "Tiananmen Square" "Tiananmen Square" "Tiananmen Square"???? Power to the People.

[@huiyichen6554]

And also might I add, the root of the problem is the wealth distribution system no longer works for the now much evolved Chinese society, to be more specific, government revenue, which explains the anti draft campaigns, the legal system, the stock market, the real estate market et cetera. Even when the government spends on infrastructures, the population can not produce enough value to consume, much like the case of high speed railway

[@dattape2828]

As a commie, they should know all about wealth redistribution. But hey, they sure like to look like one putting on those old fashion navy suits. Tiananmen Square Democracy!

[@luandy1100]

brilliant

[@umbriferum]

Europe needs to have a large surplus to hold itself together largely due to Germany's economic policies. Unless Germany adjusts itself, Europe will has to continue a large surplus. Imagine a Europe where the Germans keep up their surplus while Europe as a whole has a balanced trade account. The periphery would financially collapse.

[@PBojun]

I think BRI is the way to walk out of crisis,and the Chinese government is doing great

[@luandy1100]

Household income still law And debt still rise You call it good job?

[@Uhaul-wg5fj]

Fantastic!!! Anyway,they've(chinese) discarded Sun-Tzu,Confucius and Buddha so KARMA on the fifth(thief) life cycle is about to hit the fan...