Richard Koo of Nomura on China, Japan, and Recession bloomberg.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloomberg.com Daily Mail and Mail on Sunday newspapers.
EY chief economist Gregory Daco tells Fortune that the example of Japan shows elevated debt and a deflationary environment is “the worst of both worlds.”
This was meant to be the year of the great Chinese rebound. Unshackled by the world’s most draconian Covid restrictions, economists expected the Chinese economic tiger to roar back to life in 2023. Instead, it has looked decidedly meek.