China followed Japan’s bubble-boosting playbook from the 1980s, and Canada followed China along for the ride through levered capital flows into commodities and our real estate market. The bust part is less fun.

Low bond yields, weak inflation and a struggling property market have raised fears China may see its own version of Japan’s 1990s “balance sheet recession.” Can China change course in time to avoid its own “lost decades?” Here is a direct video link.