John Edwards is a member of the board of the Reserve Bank of Australia – he has an article in Japan’s Nikkei overnight: John Edwards: What Australia can teach the economic doom-mongers

Edwards isn’t saying anything new (for him) (and the article appears to be a little old):

  • The truth, however, is that the Australian economic story is both more interesting and more nuanced than the widely reported view that the so-called lucky country is spiraling into a slump after the supposedly fat and complacent years of the mining boom.
  • The mining boom in Australia has not been as big or as enriching as many reports suggest.
  • It is not over
  • Australians have not wasted it — on the contrary, they have largely saved it.
  • The reality of the last decade in Australia bears very little resemblance to the appearance.

There is much more at the article (link above). Like I said, Edwards isn’t saying anything he hasn’t said before … but I posted it here as it may well be reaching a larger Japanese audience than it has before.

RBA Edwards