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The GDP measure is an attempt to measure value creation in an economy. This measure, however, can vary greatly between economies that have disciplinary mechanisms that force them to recognize investment losses quickly and economies that don’t, and can postpone this recognition for many years.
Michael Pettis
Michael Pettis
Michael Pettis
Michael Pettis
Michael Pettis
China Financial Markets provides in-depth analysis of one of the world’s largest and most vital economies. Edited by Carnegie Senior Fellow Michael Pettis based in Beijing, China Financial Markets offers monthly insights into income inequality, market structures, and other issues affecting China and other global economies. A noted expert on China’s economy, Pettis is a professor of finance at Peking University’s Guanghua School of Management, where he specializes in Chinese financial markets.
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