China's Growth Slowdown Is Welcome, Pettis Writes in FT
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The decline in China’s growth rate is a good thing for the country and the world, Peking University finance professor Michael Pettis writes in the Financial Times.
China appears to be heading for a hard landing, and it must sharply reduce interest rates and expand credit to save itself and the world from disaster, Pettis, a senior associate at the Carnegie Endowment, writes.