Beijing knows it wants to discontinue the country’s existing, unsustainable growth model. The latest "Common Prosperity" policy will only shift domestic demand at the margins; a full-fledged rebalancing will require a more radical transformation. A reading, by Emil Kalinowski.----------WHO----------Michael Pettis, Finance Professor at Peking University and Senior Fellow at Carnegie-Tsinghua Center, specializes in Chinese financial markets, economic history, global capital flows and the relationship between different sectors of national economies. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "Amber Lights" by Chill Cole at Epidemic Sound.----------WHAT----------Will China’s Common Prosperity Upgrade Dual Circulation?: https://bit.ly/2Z6CoCr----------WHERE----------Michael's Blog: https://carnegieendowment.org/chinafinancialmarketsMichael's Twitter: https://twitter.com/michaelxpettisEmil's Twitter: https://twitter.com/EmilKalinowskiDavid's Art: https://davidparkins.com/---------HEAR IT----------Vurbl: https://bit.ly/3rq4dPnApple: https://apple.co/3czMcWNDeezer: https://bit.ly/3ndoVPEiHeart: https://ihr.fm/31jq7cITuneIn: http://tun.in/pjT2ZCastro: https://bit.ly/30DMYzaGoogle: https://bit.ly/3e2Z48MReason: https://bit.ly/3lt5NiHSpotify: https://spoti.fi/3arP8mYPandora: https://pdora.co/2GQL3QgBreaker: https://bit.ly/2CpHAFOCastbox: https://bit.ly/3fJR5xQPodbean: https://bit.ly/2QpaDghStitcher: https://bit.ly/2C1M1GBPlayerFM: https://bit.ly/3piLtjVPodchaser: https://bit.ly/3oFCrwNPocketCast: https://pca.st/encarkdtSoundCloud: https://bit.ly/3l0yFfKListenNotes: https://bit.ly/38xY7pbAmazonMusic: https://amzn.to/2UpEk2PPodcastAddict: https://bit.ly/2V39Xjr