Michael Pettis(@michaelxpettis):1/3 SCMP: "HSBC estimated that lowering the high precautionary savings rate of migrant workers from 54% to 45% – closing half the gap with registered urban residents – could unlock 637 billion yuan in additional spending a year, equivalent to roughly 0.5% of annual GDP."

Michael Pettis

@michaelxpettis

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

가입 October 2017

239 팔로잉 중 195.2K 팬

Michael Pettis@michaelxpettis

2026.09.11 07:04

1/3 SCMP: "HSBC estimated that lowering the high precautionary savings rate of migrant workers from 54% to 45% – closing half the gap with registered urban residents – could unlock 637 billion yuan in additional spending a year, equivalent to roughly 0.5% of annual GDP."