By some measures, the Chinese economy did better in 2020 than just about anywhere else. For one thing, it actually grew last year. Also because of the country's success at virus containment, it returned to normalcy faster than elsewhere. But the Chinese economy maintains persistent imbalances, and if anything, the pandemic may have accelerated them. On this episode, we spoke with Michael Pettis, a Finance Professor at Peking University and Senior Fellow at the Carnegie-Tsinghua Center, on where things stand now.