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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
14/15
What this means is that the only sustainable solution to China's problem of excess capacity is to engineer a transformation of the country's economic system and growth model. Other "solutions" just shift excess capacity from one sector to another.
2025-08-23T06:28:30.892Z