During the 1980s “everything was possible”, says John Spalvins, boss of Australia’s biggest industrial group until it collapsed amid spiralling debt and 17 per cent-plus interest rates.
Unfortunately, the “everything is possible” view has now been reversed, he says.
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Andrew Clark is a former editor of The Sun-Herald and Australian Business. He was a correspondent in Europe and North America, a political correspondent in Canberra and has been a journalist for more than 55 years. Email Andrew at aclark@afr.com.au
