Let's talk about growing foreign debt before it brings Australia undone | Stephen Koukoulas

Australia's net foreign debt is on a unrelenting upward trajectory, leaving us vulnerable to the whims of foreign investors

The sharp escalation in the level of Australia's net foreign debt, the economic problem of years past, has the potential to unleash a wealth-destroying wave that could knock Australia down the list of rich countries.

Yet it's not getting the same attention as the house price bubble, the fall in the terms of trade, or the failure of the Abbott government to deliver on its promises of budget surpluses and lower government debt.

Related: The 2015 budget confirms the Abbott government will never pay off its debt

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