Trading on Mars: How Global Imbalances Really Work with Michael Pettis

[Recorded February 18, 2026] Join hosts Maddie Feldman and Maya Chu for a conversation with economist Michael Pettis, a leading voice on global trade, capital flows, and China’s economic trajectory. In this episode, we unpack the mechanics and misconceptions of global trade, beginning with Pettis’s core distinction between the gains from balanced trade and the costs of persistent imbalances.…