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Michael Pettis
michaelpettis.bsky.social
did:plc:aday7msfnpqba7psqpjq3pij
2/2
The NBS credited the improvement to "a government-led campaign to curb excess competition." If they are right, this suggests that involution may be addressed by shifting at least part of the losses from the manufacturing sector to mining and utilities.
2025-08-27T07:00:50.921Z