Richard Koo: Chinas Balance Sheet Recession Has Already Started | (Jacks Final Episode)
Important news: this will be Jack\u2019s last episode as the host of Forward Guidance. He is transitioning to host a new podcast called Monetary Matters: https://www.youtube.com/@Monetary-Matters\n\nFelix Jauvin, macro trader and current host of \u201cOn The Margin,\u201d will be the new host of Forward Guidance going forward: https://x.com/fejau_inc\n\nRichard Koo, senior adviser at CSIS, chief economist at Nomura Research Institute, and pioneer of the \u201cbalance sheet recession\u201d phenomenon, explains why he thinks China\u2019s balance sheet recession has already begun.\n\nRichard Koo\u2019s latest book, \u201cPursued Economy: Understanding and Overcoming the Challenging New Realities for Advanced Economies\u201d: https://www.amazon.com/Pursued-Economy-Understanding-Overcoming-Challenging/dp/1119984270\n\nRichard Koo\u2019s classic book, \u201cThe Holy Grail of Macroeconomics: Lessons from Japan's Great Recession\u201d: https://www.amazon.com/Holy-Grail-Macroeconomics-Lessons-Recession/dp/0470824948\n\n__\nFollow Jack Farley on Twitter https://twitter.com/JackFarley96\nFollow Forward Guidance on Twitter https://twitter.com/ForwardGuidance\nFollow Blockworks on Twitter https://twitter.com/Blockworks_\n__\n\nTimestamps:\n(00:00) Introduction\n(01:08) What Is A Balance Sheet Recession?\n(08:56) Balance Sheet Recession In Europe & U.S. After The Great Financial Crisis of 2008\n(15:46) China's Balance Sheet Recession\n(25:43) Savings And Bank Credit In China\n(33:26) Permissionless Ad\n(34:25) China's Trade Surplus\n(38:20) China Likely Can't Export Its Way Out Of Its Balance Sheet Recession Because The Rest of the World Won't Let It\n(45:33) The Currency Adjustment Mechanism To Correct Trade Imbalances Has Been Severely Impaired, Argues Koo\n(01:01:58) Is The U.S. in a Balance Sheet Expansion?\n__\nDisclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.