M
ichael Pettis, a well-known expert on China's economy, has written extensively about the country's financial markets. His work highlights the complexities and challenges of China's economic system.

    Pettis notes that China's financial markets are not as developed as those in the West, with a lack of transparency and accountability. This makes it difficult for investors to accurately assess risk and make informed decisions.

    The Chinese government has implemented various policies aimed at liberalizing its financial markets, but these efforts have been met with limited success. Pettis argues that China's economic model is unsustainable in the long term due to its reliance on debt and state-led investment.

    Pettis' analysis suggests that China's financial markets are vulnerable to significant disruptions, which could have far-reaching consequences for the global economy.