As Australia builds its powerful new “bullshit jobs” economy, it’s useful to contemplate some of the downsides, via FTAlphaville:
Any student of emerging markets will tell you that financing a current account deficit with imported capital always seems like a good idea. That is, until investors panic and want their money back.
But what if businesses themselves were as nimble as capital? Able to shift in and out their chosen markets with the deftness and lightness of a bond trader.
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