Excerpted from Goldman Sachs interview with Michael Pettis,
Allison Nathan: Given how daunting some of these challenges seem to be, is China heading for a hard landing?
Michael Pettis:
I think the soft landing/hard landing debate misrepresents the structure of Chinese growth.
China’s options are not a soft landing of 6-7% growth for the rest of the decade or a hard landing of growth below 5%.