Kojak, I am in total agreement with what you are saying. China has exported low inflation and low wage growth to world. Way back in the early seventies wages grew quickly. We built a modest 3BR house and paid it off in six years with one income, 3 chn and wage growth of about 80% over this period of time. Might add the Whitlam gov was in power and inflation , wages, house prices rocketed and the $AU took a hit. Additionally children had fewer toys and cloth nappies hung on the Hills Hoist.
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