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: www.piie.com/events/has-china...
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