# Inventor of ‘Balance-Sheet Recession’ Says China Is Now in One - Bloomberg

> Economist Richard Koo, who coined the term 'balance-sheet recession', says China is now in one. He argues the country needs to ramp up fiscal stimulus quickly to address it.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/35714-inventor-of-balance-sheet-recession-says-china-is-now-in-one-bloomberg
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A prolonged Chinese slowdown would weaken demand for feed grains, meal and meat, but the comment is an analyst view rather than a new policy action, so the price impact is indirect.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2021-07-27 | [China Stock Rout Spreads Amid Fears of Foreign Investor Exodus - Bloomberg](https://feedsoft.ai/events/46290-china-stock-rout-spreads-amid-fears-of-foreign-investor-exodus-bloomberg.md) | -0.3% | -0.0% |
| USDCNY | 2019-06-09 | [China Central Banker Says No Specific Yuan Level Important - Bloomberg](https://feedsoft.ai/events/58817-china-central-banker-says-no-specific-yuan-level-important-bloomberg.md) | +0.3% | -0.4% |
| USDCNY | 2020-09-01 | [Yuan’s Jump to One-Year High Tests China’s Tolerance for Gains - Bloomberg](https://feedsoft.ai/events/51313-yuan-s-jump-to-one-year-high-tests-china-s-tolerance-for-gains-bloomberg.md) | -0.1% | -0.5% |
| USDCNY | 2017-11-22 | [China's Banks Are Getting Ready for Bigger Swings in the Yuan - Bloomberg](https://feedsoft.ai/events/68222-china-s-banks-are-getting-ready-for-bigger-swings-in-the-yuan-bloomberg.md) | -0.3% | -0.7% |
| USDCNY | 2021-04-19 | [Global Reflation Trade Gains New Momentum From China’s Yuan - Bloomberg](https://feedsoft.ai/events/47815-global-reflation-trade-gains-new-momentum-from-china-s-yuan-bloomberg.md) | -0.4% | -1.3% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-06-29/inventor-of-balance-sheet-recession-says-china-is-now-in-one

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.