COMMENT:

There will be at least three barely quiescent "elephants" hanging about the room during next week's meeting of Australian and New Zealand business power brokers in Auckland.

These elephants — which may ultimately have the capacity to disrupt today's relatively cordial Australasian relationship — are: the strategic impact of the big power game between the United States and China; the battle between the NZ Reserve Bank and Australian banks over proposals to force them to increase their capital in NZ; and some hard choices that will have to be made by this country's biggest investor — Australia — as

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