Bollard sets out vision of ‘new world’ economy
The governor of the Reserve Bank of New Zealand (RBNZ) today (August 9) outlined a vision of a post-financial crisis "new world", one where economic growth is rebalanced towards emerging Asia and a higher degree of risk aversion exists in credit markets.
Presenting a paper co-authored with Tim Ng at the Australian National University in Canberra, Bollard said global imbalances that existed before the financial crisis were diminishing as emerging economies become less reliant on exports. This
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