QOTD: Fairness, and China's Painful Math

By Paul Kedrosky · Thursday, February 12, 2009 ·

The result, with net Chinese consumption contracting by more than net Chinese production, is that non-Chinese producers must absorb more than 100% of the contraction in demand from non-Chinese consumers. It will be hard to convince them that this is fair. [Emphasis added]

   - Michael Pettis on China's latest trade figures