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Steve's avatar

Hi Peter. Excellent post. I have followed Michael Pettis' work for a while as well. You mentioned the ASX and as an Australian I have watched the ASX basically go nowhere for 15 years. However, as you would be aware our property market is very bubbly and I think much of it is explained by Michael's work and your post. Most people I talk to still seek the answer elsewhere - immigration, planning laws etc. I would be interested to know your thoughts as I can clearly make a link between the surplus countries and Australia's property bubble. Thanks Steve

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Jim Bursch's avatar

“Perhaps one of the 3 surplus countries, either Germany, Japan or China, may be able to switch to being a deficit country. “ - why did you word it that way? Why not switch to balanced country? Or does balance simply not exist, and all we can hope for is less imbalance?

Do you have recommended reading list on this topic?

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