U.S. Should Chill Out About High-Tech China Threat, Pettis Says
- Michael Pettis says China can’t innovate, isn’t a threat
- China faces ‘terrible adjustment’: Peking University Professor
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President Donald Trump should relax about China’s plan to dominate the high-tech industries of the future.
That’s the view of Michael Pettis, a professor of finance at the Guanghua School of Management at Peking University in Beijing. The world’s second biggest economy won’t steal America’s lunch because it lacks the ability to innovate and has challenges so daunting that the real issue in coming years will be holding itself together, he said in an interview.