Change - a Business Opportunity by the Governor of RBA
Reserve Bank of Australia Governor, Glen Stevens speech in China, on March 19, 2012 – synopsis:
Improving productivity is the only way to lift living standards (increasing Welfare is counter productive)
Structural Change – increased prices of the things we export, reduction in prices we import.
Challenge: Adapting to structural change & improving productivity.
“Structural adaption is hard work... But we have little choice… Australian community… tendency to focus on the difficulties rather than the opportunities which come with our situation”
Ready access to cheap international capital is a great opportunity for households and business, not being lost on international investors. (Hence the big House-and-Land Developers are targeting Chinese households for the bigger, non first-home properties. Australians are still too risk adverse and have not recognized the shift in global allocation.)
See mine: www diyholidayhome com
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