Pettis is a speaker and writer on global economic growth, having published two books on the subject. In 2013, Princeton University Press published his second book, The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy.[2][3]
Pettis was born in Zaragoza, Spain to a French mother and an American father. His father was a geologist and civil engineer. He spent his childhood in Peru, Pakistan, Morocco and Haiti, before returning to Spain for High School. Pettis entered Columbia University in 1976.[4] He received a Masters of International Affairs (emphasis in Economic Development) in 1981 and a Masters of Business Administration in Finance in 1984, both from Columbia University.[5][6]
Careeredit
Pettis began his career in 1987, joining Manufacturers Hanover (now JPMorgan Chase) as a trader in the Sovereign Debt group. From 1996 to 2001, he was at Bear Stearns as a managing director-principal in Latin American capital markets. Pettis also served as an advisor to sovereign governments on topics regarding financial management; including the governments of Mexico, North Macedonia and South Korea.[7]
Pettis is a frequent guest as an economic expert, with media appearances on news stations including CNBC, NPR, Bloomberg Radio and BBC.[8]
Projectsedit
In April 2006, Pettis opened D22, a nightclub he founded and co-owned. In 2007, he founded the label Maybe Mars around the club. D22 closed January 2012; the reasons for closure included the venue no longer being suitable for some events and high forthcoming maintenance costs. Pettis's intention was to open another club.[1]
Writingsedit
Chinese economic investmentedit
Pettis has long warned that heavy investment by China into infrastructure projects, at the expense of consumption, is cause for serious concern.[9] The banking sector in particular, the source of cheap loans for large infrastructure projects, has accumulated large debts both on and off balance sheet. There are only two methods by which investment, which is estimated at almost 50% of China's GDP, would decline to a level more consistent with other Asian economies. China can either deliberately de-incentivize investment spending, at the near-term cost of slowing economic growth, or investment can continue to rise as a share of GDP until the financial system cannot absorb further increases to debt, and a financial contraction will ensue.[10]
Publicationsedit
The Volatility Machine: Emerging Economics and the Threat of Financial Collapse, Oxford: Oxford University Press, May 2001.[11]
The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy, Princeton: Princeton University Press, January 2013.[12]
Avoiding the Fall: China's Economic Restructuring, Washington: Carnegie Endowment for International Peace, September 2013.[13]
Trade Wars Are Class Wars: How Rising Inequality Distorts the Global Economy and Threatens International Peace with Matthew C. Klein, New Haven: Yale University Press, May 2020.[14]
Referencesedit
^ ab"D22 Closing: Full Interview with founder Michael Pettis".
^Pettis, Michael (22 January 2013). The Great Rebalancing. ISBN9780691158686.
^Michael Pettis (26 October 2014). The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy - Updated Edition. Princeton University Press. ISBN978-1-4008-5226-0.
^Roberts, Dexter. "Michael Pettis: Rocking Chinese Finance". Archived from the original on 10 April 2013.
^"Financial instability in China". Archived from the original on 11 April 2013. Retrieved 10 March 2013.
^. Archived from the original on 4 March 2013. Retrieved 10 March 2013.
^Pettis, Michael (7 June 2001). The Volatility Machine: Emerging Economies and the Threat of Financial Collapse. Oxford, New York: Oxford University Press. ISBN978-0-19-514330-0.
michael, pettis, born, june, 1958, american, professor, finance, guanghua, school, management, peking, university, beijing, nonresident, senior, fellow, carnegie, endowment, international, peace, founder, owner, punk, rock, nightclub, beijing, which, closed, j. Michael Pettis born June 16 1958 is an American professor of finance at Guanghua School of Management at Peking University in Beijing and a nonresident senior fellow at the Carnegie Endowment for International Peace He was founder and co owner of punk rock nightclub D22 in Beijing which closed in January 2012 1 Michael PettisBorn 1958 06 16 16 June 1958 age 65 Zaragoza SpainNationalityAmericanOccupation s Professor of Finance Peking UniversityAcademic backgroundAlma materColumbia UniversityAcademic workEra20th amp 21st centuryInstitutionsPeking UniversityMain interestsWorld Economy Trade ChinaNotable worksThe Great RebalancingTrade Wars Are Class WarsWebsitecarnegieendowment wbr org wbr chinafinancialmarkets wbr Pettis is a speaker and writer on global economic growth having published two books on the subject In 2013 Princeton University Press published his second book The Great Rebalancing Trade Conflict and the Perilous Road Ahead for the World Economy 2 3 Contents 1 Biography 1 1 Early life and education 1 2 Career 1 3 Projects 2 Writings 2 1 Chinese economic investment 3 Publications 4 References 5 External linksBiography editEarly life and education edit Pettis was born in Zaragoza Spain to a French mother and an American father His father was a geologist and civil engineer He spent his childhood in Peru Pakistan Morocco and Haiti before returning to Spain for High School Pettis entered Columbia University in 1976 4 He received a Masters of International Affairs emphasis in Economic Development in 1981 and a Masters of Business Administration in Finance in 1984 both from Columbia University 5 6 Career edit Pettis began his career in 1987 joining Manufacturers Hanover now JPMorgan Chase as a trader in the Sovereign Debt group From 1996 to 2001 he was at Bear Stearns as a managing director principal in Latin American capital markets Pettis also served as an advisor to sovereign governments on topics regarding financial management including the governments of Mexico North Macedonia and South Korea 7 Pettis is a frequent guest as an economic expert with media appearances on news stations including CNBC NPR Bloomberg Radio and BBC 8 Projects edit In April 2006 Pettis opened D22 a nightclub he founded and co owned In 2007 he founded the label Maybe Mars around the club D22 closed January 2012 the reasons for closure included the venue no longer being suitable for some events and high forthcoming maintenance costs Pettis s intention was to open another club 1 Writings editChinese economic investment edit Pettis has long warned that heavy investment by China into infrastructure projects at the expense of consumption is cause for serious concern 9 The banking sector in particular the source of cheap loans for large infrastructure projects has accumulated large debts both on and off balance sheet There are only two methods by which investment which is estimated at almost 50 of China s GDP would decline to a level more consistent with other Asian economies China can either deliberately de incentivize investment spending at the near term cost of slowing economic growth or investment can continue to rise as a share of GDP until the financial system cannot absorb further increases to debt and a financial contraction will ensue 10 Publications editThe Volatility Machine Emerging Economics and the Threat of Financial Collapse Oxford Oxford University Press May 2001 11 The Great Rebalancing Trade Conflict and the Perilous Road Ahead for the World Economy Princeton Princeton University Press January 2013 12 Avoiding the Fall China s Economic Restructuring Washington Carnegie Endowment for International Peace September 2013 13 Trade Wars Are Class Wars How Rising Inequality Distorts the Global Economy and Threatens International Peace with Matthew C Klein New Haven Yale University Press May 2020 14 References edit a b D22 Closing Full Interview with founder Michael Pettis Pettis Michael 22 January 2013 The Great Rebalancing ISBN 9780691158686 Michael Pettis 26 October 2014 The Great Rebalancing Trade Conflict and the Perilous Road Ahead for the World Economy Updated Edition Princeton University Press ISBN 978 1 4008 5226 0 Roberts Dexter Michael Pettis Rocking Chinese Finance Archived from the original on 10 April 2013 Economics by Invitation The Economist Yumpu com SIPA Reaches Out Around the World School of International and yumpu com Retrieved 21 December 2022 Carnegie Endowment Biography Carnegie Endowment Biography Financial instability in China Archived from the original on 11 April 2013 Retrieved 10 March 2013 The IMF on overinvestment Archived from the original on 4 March 2013 Retrieved 10 March 2013 Pettis Michael 7 June 2001 The Volatility Machine Emerging Economies and the Threat of Financial Collapse Oxford New York Oxford University Press ISBN 978 0 19 514330 0 Pettis Michael 22 January 2013 The Great Rebalancing ISBN 978 0 691 15868 6 Pettis Michael Avoiding the Fall China s Economic Restructuring Carnegie Endowment for International Peace Retrieved 10 June 2020 Trade Wars Are Class Wars Yale University Press yalebooks yale edu Retrieved 10 June 2020 External links editMichael Pettis own website China Financial Markets now hosted at Carnegie Michael Pettis speech from August 2011 How Long Can China Grow Economist magazine bets professor over China s future Review of The Great Rebalancing Michael Pettis JSTOR Retrieved from https en wikipedia org w index php title Michael Pettis amp oldid 1173846556, wikipedia, wiki, book, books, library,
