Brexit: Winston Peters thinks everything is ok. Jamie Mackay isn't so sure. What does the chief economist of the ANZ Bank, Cameron Bagrie think?
The Country's Jamie Mackay catches up with Bagrie today to put his considerable financial knowledge to the test.
The Brexit vote sends a clear message that society is unhappy and there are deeper issues at play says Bagrie. Environments like this tend to bring about change.
There's no "knock-out punch" for New Zealand's general economy so far as only 3% of our exports go to the United Kingdom.
However when problems with the UK and European markets combine, the flow on effect could bring Asia into play which is when New Zealand should start to take notice.
I have some concerns that the New Zealand dollar should be weakening in this environment. It is not and that could be an economic problem 6 to 12 months down the track
Bagrie says we need to look at the bigger picture and this new leaning toward anti-globalisation and putting up walls against trade is not a good outcome for our nation.
Hear Jamie Mackay's full interview with Cameron Bagrie in the Soundcloud embed below: