Editor
The biggest question in global macroeconomics at the moment is whether China is on the cusp of a “balance sheet recession”. This sexy bit of economic jargon was first coined by Nomura’s Richard Koo to describe Japan’s lost decade(s), but is most commonly known as “Japanification”.
It can be described simply as a protracted period of deflation, economic sluggishness, property market declines and financial stress as…
