Forward Guidance
Richard Koo: China’s “Balance Sheet Recession” Has Already Started | (Jack’s Final Episode)
Sep 13, 2024
Richard Koo, a senior advisor at CSIS and chief economist at Nomura Research Institute, is a pioneer of the balance sheet recession concept. He discusses China's current economic turmoil, asserting that its balance sheet recession has already begun. Koo explains the shift from profit maximization to debt repayment, highlighting the implications for corporate behavior. He contrasts China's trade surplus challenges with historical insights from Japan and Korea, emphasizing the importance of effective fiscal policy to navigate these turbulent economic times.
01:07:28
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Quick takeaways
- Jack announces his transition to a new podcast, 'Monetary Matters,' highlighting an evolution in the financial podcast landscape.
- Richard Koo articulates the concept of balance sheet recessions, noting their impact on economic stagnation through debt reduction.
Deep dives
Transition of Podcast Hosts
The episode marks a significant transition as the original host announces their departure to launch a new financial podcast and YouTube channel called 'Monetary Matters.' They express confidence in their successor, Felix Javeen, who will take over as the host of 'Forward Guidance.' This change reflects an evolution in the podcast's direction while ensuring continuity for its audience. The original host leaves with gratitude for the experiences and insights shared over the years.
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