Michael Pettis(@michaelxpettis):In my most recent piece for Foreign Affairs, I argue that we actually know quite a lot about how large trade imbalances eventually get resolved – and that the adjustment is almost always painful. The key question for policymakers, then, is not whether there will be pain, but how it will be distributed between surplus and deficit economies. https://t.co/1B3KgMQsGF via @ForeignAffairs

Michael Pettis

@michaelxpettis

Senior Fellow, Carnegie Endowment. For speaking engagements, please contact me at chinfinpettis@yahoo.com

Joined October 2017

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Michael Pettis@michaelxpettis

2026.08.28 04:55

In my most recent piece for Foreign Affairs, I argue that we actually know quite a lot about how large trade imbalances eventually get resolved – and that the adjustment is almost always painful. The key question for policymakers, then, is not whether there will be pain, but how it will be distributed between surplus and deficit economies. via @ForeignAffairs