Michael Pettis
michaelpettis.bsky.social
Senior Fellow at Carnegie China. For speaking engagements, please write to chinfinpettis@yahoo.com
👤 Joined on 31 October 2023
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- 31 Eki 2023, 02:48
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@michaelpettis.bsky.social - 10 Kas 2023, 00:33
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“The advantage of all being in the negative [trade balance] is we finally all agree that this cannot go on like this,” said the Belgian premier, adding that the “very good debate” was a “step in the right direction”.
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Persistent trade balances are hugely damaging, and this politics has persisted in the EU because some countries ran huge surpluses. Now it should change, something the UK government, with 40+ years deficit, seems unable to grasp.
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The correct take. (Also directionally @michaelpettis.bsky.social’s take)
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