Racist attitudes risk prosperity from China - economist

Economist Shamubeel Eaqub says NZ has to deal with its racist attitudes towards immigration and capital inflows. Photo / NZME

"Racist attitudes" towards Chinese immigration and investment could damage New Zealand's relationship with China that promises to deliver "big waves" of economic prosperity, a top economist says.

Speaking at today's China Business Summit, independent economist Shamubeel Eaqub said the relationship was not just about trade and tourism.

"It's also about capital inflows and immigration," he said. "We must have a consistent framework that puts country, race and background out of it."

Chinese investment into residential property and rural land has been a divisive issue in New Zealand in recent years.

Eaqub said that despite the negative headlines about China's economic outlook, the opportunities for New Zealand remained vast.

The biggest opportunities, he added, were beyond the free trade agreement signed with China in 2008.

"It is about dealing with our racist attitudes towards immigration and capital inflows because it is the next phases of economic integration that are going to deliver the next big waves of economic prosperity to New Zealand," he said.

Eaqub said New Zealand was treating Chinese investors badly.

"We must change because the opportunities are massive."

See this corporate video from Chinese company Yashili showing off its new Pokeno factory: