What a gale of fresh air is Adrian Blundell-Wignall, blowing aside Aussie group think with ease. As a doyen at the OECD he repeatedly warned about Aussie property bubbles and the failure to address the trade war. Since returning home, he has caned the houses and holes growth model and warned that China is going to bust and sought to repair our failing education system. All MB tenets.
Today he slaughters another sacred cow, that Brexit is a bad idea, at the AFR:
You do not have to be a far-right ideologue to believe Britain may do better in the long run by leaving Europe, even if it doesn’t end up being the “greatest place on earth”…The Euro Area is in relative economic decline mainly because of the euro. The impact of the global “China shock” has had an asymmetric impact on Europe – the north (Germany, France, Netherlands, etc.) sell high-tech investment goods to emerging countries, which compete more with the south of Europe.
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