The Great Rebalancing

In "The Great Rebalancing," economist Michael Pettis delves into the interconnected crises of global economies, highlighting issues such as China's unsustainable investment growth, Germany's detrimental impact on the Euro, and the burdens of the U.S. dollar as a reserve currency. He argues that these severe trade imbalances, rooted in misguided policies, are leading to a critical rebalancing that may cause significant economic dislocations worldwide. Pettis provides a comprehensive examination of how these seemingly disparate economic issues are intertwined, emphasizing the need for a coordinated resolution to avoid lasting repercussions across the globe.