In the case of monetary policy, the Reserve Bank has been offering support to demand, consistent with its mandate as expressed by the medium-term inflation target.
What globalisation statistics show is that economic integration does indeed raise aggregate wealth. Worldwide exports and imports have reached roughly 60% of global GDP1, and there has been a surge in global economic integration in recent decades. At the same time, real income has been growing globally and across the income spectrum since the 1980s.2 These developments are not accidental side effects.