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Michael Pettis

@michaelxpettis

Senior Fellow, Carnegie Endowment.
For speaking engagements, please contact me at [email protected]

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Michael Pettis
@michaelxpettis

4 months ago

3/4 globally "competitive" mainly by lowering the wage share of production and forcing the cost of the resulting decline in domestic demand onto trade partners. This kind of mercantilist behavior, as Keynes explained long ago, puts downward pressure on global growth.