Has China entered a balance sheet recession?

Richard C. Koo coined the expression “balance sheet recession”—when individuals and companies focus on restoring their solvency, with detrimental effects on the overall economy—in the context of Japan’s “lost decade“ of the 1990s. Is it an apt template for what is unfolding now in China? Joining this episode of the event series Financial Statements are: HOST Nicolas Véron Senior Fellow, Peterson Institute for International Economics (PIIE) GUESTS Richard C. Koo Chief Economist, Nomura Research Institute Guo Kai Senior Fellow, China Finance 40 Forum (CF40) For more information, visit: Subscribe to receive notices of upcoming PIIE events: Follow the Peterson Institute for International Economics on social media! Twitter: LinkedIn: Facebook: Thumbnail credit: Sarah Tew/PIIE via ; FLICKR/Jonathan Rees