Such worries become particularly acute at times like the present, when the labor market is weak and net job creation is depressed. From an economist’s perspective, focusing on the impact of trade on jobs alone is unduly narrow, as many of the benefits of trade accrue to consumers, in the form of greater access to goods and services, rather than to producers.
BIS central bankers’ speeches  9  Graph 10  In contrast, in Australia, while a rise in the cost of bank funding over recent years has meant that some businesses have been able to raise funds in the bond market more cheaply than obtaining a bank loan, the number of businesses that have found themselves in this position is relatively small.