Communication lines, roads, bridges and airports… these are the kinds of investments that affect the quality of growth and define our competitiveness. Second, financial stability. Through the crisis, we managed continued real GDP growth because our financial markets were broadly in order. This is why financial stability is now the overarching policy issue.
Instead of looking at growth only as a higher number, we need to go beyond the bottom line and the balance sheet. Specifically, we must appreciate how things relate to one another, arresting any buildup of system-wide risks that may be brewing underneath.