The Latest Breaking News from Michael Pettis

Chinese commerce ministry says ‘there is no way out for protectionism’ as tariffs rise from 20% to 54%

“In this case, tariffs (properly implemented) would have the opposite effect of Smoot-Hawley.”

The Chinese century is over. Facing upside-down demographic and economic trends, China is heading off the cliff

With its population declining, China’s period of rapid growth is likely over. How it copes is critical for the world.

Clouds are gathering over the economic powerhouse as Covid lockdowns, a distressed property market and population changes take a toll

TAIPEI, Taiwan — Last November, hundreds of angry homeowners in Nanchang, the capital of China's Jiangxi province, gathered on the roof of an unfinished apartment building. From their perch, they unfurled red and white banners along the outer walls and chanted demands for completion of the homes they had already…

Authorities say some customers will start getting their money back after angry crowd in Henan was broken up by heavy-handed security guards

Most of what is pushing up prices now won’t be affected by increasing interest rates – but higher rates will wound the bezzle.