But over the past five years, foreign holdings of Australian government debt have risen to around 20 per cent of GDP, with a broadly offsetting decline in foreign holdings of Australian bank debt as a share of GDP.
And, as I have spoken about on previous occasions, policies that promote innovation and entrepreneurship are likely to hold us in good stead not just in the short term, but over the long term as well. In terms of the financial side, it is in the housing market where the strong demand for existing assets is most evident.