Yanis Varoufakis – views

Regardless of short-term trends that reduced the significance of manufacturing in the developed world, he says, the kind of accumulated knowledge that car manufacturing represented should not have been jettisoned without something to replace it. There appears to be an expectation that the Chinese will replace that loss of value by investing their money in Australia. But if that happens, it could lead to boosting the existing bubble in the property market, warns Varoufakis.

Read more