Michael Pettis(@michaelxpettis):Martin Wolf: "We are living in a mercantilist era. This threatens both the stability of the world economy and relations among great powers." Just 3-4 years ago this would have still been considered an outrageous statement. It shows the extent to which the global trading system has come under pressure in the past 10-15 years.

Michael Pettis

@michaelxpettis

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

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Michael Pettis@michaelxpettis

2026.07.22 05:21

Martin Wolf: "We are living in a mercantilist era. This threatens both the stability of the world economy and relations among great powers." Just 3-4 years ago this would have still been considered an outrageous statement. It shows the extent to which the global trading system has come under pressure in the past 10-15 years.