In 1975 under that economic guru ( you do understand irony don't you?) we last has a current account surplus.
Finally after 44 years we have one again. My old mate Peter Martin has a good article on it.
to put it in simple terms there are great similarities between the two occasions.
High commodity prices and low business investment !
We import around 80% of our business investment thus we never should get too worried about current account deficits.
Much ado about nothing
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