Viktor Schvets at Macquarie is making more sense. In 1990s, Paul Krugman was advocating that Japan should embark on policies that are “credibly irresponsible; (must only look irresponsible but the world must be convinced that they are to carried out). In his view, this was the only way to shock Japan out of its liquidity
The post China so much worse than Japan appeared first on MacroBusiness.