To avoid such a catastrophic outcome, we must spare no effort to reengineer, to plug the knowledge and skill gap with our Asian competitors, and do whatever it takes to restore our competitive advantage so that our exporters become once again a dynamic force of economic transformation. This calls for profound changes in the way we conduct our business; but therein lies the rub.
Only time can tell whether this is true, and nobody can say anything definite about the level of interest rates in five or ten years’ time. However, if the international upswing really gets under way, inflation prospects can be affected, making interest-rate increases like those already seen in Sweden necessary.