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	<title>China Financial Markets &#187; Greendown</title>
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	<description>Michael Pettis&#039; finance blog...</description>
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		<title>Debt is up, trade is down, and we still don’t know which way to list</title>
		<link>http://www.mpettis.com/2009/06/15/debt-is-up-trade-is-down-and-we-still-dont-know-which-way-to-list/</link>
		<comments>http://www.mpettis.com/2009/06/15/debt-is-up-trade-is-down-and-we-still-dont-know-which-way-to-list/#comments</comments>
		<pubDate>Mon, 15 Jun 2009 11:32:42 +0000</pubDate>
		<dc:creator>Michael</dc:creator>
				<category><![CDATA[Balance of payments]]></category>
		<category><![CDATA[Banks]]></category>
		<category><![CDATA[Economic growth]]></category>
		<category><![CDATA[Exports and imports]]></category>
		<category><![CDATA[Fiscal debt and deficits]]></category>
		<category><![CDATA[PBoC]]></category>
		<category><![CDATA[Real estate]]></category>
		<category><![CDATA[Greendown]]></category>

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		<description><![CDATA[I am still working on my piece on the global savings adjustment and will probably post it in the next week or so. The main point is to discuss what the implications are for China if we see simultaneously over the next few years an increase in US savings and a reduction in global investment. [...]]]></description>
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