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	<title>China Financial Markets &#187; Consumer demand</title>
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	<description>Michael Pettis&#039; finance blog...</description>
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		<title>What do banking crises have to do with consumption?</title>
		<link>http://www.mpettis.com/2010/07/04/what-do-banking-crises-have-to-do-with-consumption/</link>
		<comments>http://www.mpettis.com/2010/07/04/what-do-banking-crises-have-to-do-with-consumption/#comments</comments>
		<pubDate>Sun, 04 Jul 2010 11:56:29 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Balance of payments]]></category>
		<category><![CDATA[Banks]]></category>
		<category><![CDATA[Consumption and production]]></category>
		<category><![CDATA[NPLs]]></category>
		<category><![CDATA[Consumer demand]]></category>

		<guid isPermaLink="false">http://mpettis.com/?p=1262</guid>
		<description><![CDATA[Just three days after returning to Beijing from New York, I had to leave again, this time  to a series of conferences in Torino, Italy, so it is hard to do much writing for my blog, especially since I won&#8217;t spend my free time in the hotel when there is so damned much food out [...]]]></description>
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		<slash:comments>78</slash:comments>
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		<title>Who will pay for China&#8217;s bad loans?</title>
		<link>http://www.mpettis.com/2010/04/06/who-will-pay-for-chinas-bad-loans/</link>
		<comments>http://www.mpettis.com/2010/04/06/who-will-pay-for-chinas-bad-loans/#comments</comments>
		<pubDate>Wed, 07 Apr 2010 05:05:14 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Asian development model]]></category>
		<category><![CDATA[Balance sheets]]></category>
		<category><![CDATA[Consumption and production]]></category>
		<category><![CDATA[Fiscal debt and deficits]]></category>
		<category><![CDATA[NPLs]]></category>
		<category><![CDATA[Consumer demand]]></category>
		<category><![CDATA[credit expansion]]></category>
		<category><![CDATA[Trade war]]></category>

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		<description><![CDATA[Since this is a very long post, it may make sense first to provide a quick summary of what I am going to argue.  As I have discussed often in earlier posts, pessimists are starting to worry about excessive debt levels in China, about which they are very right to worry, and many are predicting [...]]]></description>
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		<slash:comments>103</slash:comments>
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		<title>Is the PBoC running out of capital?</title>
		<link>http://www.mpettis.com/2008/09/10/is-the-pboc-running-out-of-capital/</link>
		<comments>http://www.mpettis.com/2008/09/10/is-the-pboc-running-out-of-capital/#comments</comments>
		<pubDate>Wed, 10 Sep 2008 16:37:50 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Inflation]]></category>
		<category><![CDATA[PBoC]]></category>
		<category><![CDATA[Consumer demand]]></category>
		<category><![CDATA[Inventories]]></category>
		<category><![CDATA[Policy]]></category>

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		<description><![CDATA[Another terrible day on the stock market saw the SSE Composite, led kicking and screaming by energy and financial companies, trade more or less straight down by 3.2% to close the day at 2203.  The brilliant autumn weather in Beijing (and the best week for air quality I have seen in seven years of living [...]]]></description>
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