M
ichael Pettis is a well-known expert on China's financial markets. He has written extensively about the country's economic challenges and the impact of its financial system on the global economy.

    Pettis argues that China's financial markets are not as robust as they appear, with many assets being overvalued due to government intervention and manipulation. This has led to a buildup of debt in various sectors, including real estate and corporate finance.

    The Chinese government has implemented policies aimed at reducing leverage and promoting economic rebalancing, but these efforts have been slow to take hold. As a result, Pettis believes that China's financial markets are vulnerable to significant shocks, which could have far-reaching consequences for the global economy.