Hooton does make a good point. It’s important to realise that there is a huge geopolitical battle being waged in the Indo-Pacific region. It is fast becoming a reality that New Zealand cannot sit on the fence for much longer - a decision has to be made between being economically dependent on China, or taking a stand with countries we have a long-standing and like-minded relationship with. Either option will cause considerable economic pain.
If New Zealand dosen’t make a decision about where it stands, then in the end, that decision will be made for New Zealand. At the moment, I think the Government is making the right decision in reconnecting with the USA, Australia and the UK.
That is the reality New Zealand is facing, and it’s important for people to understand that.
So, diversifying trade with as many countries as possible is the only way forward. So let’s focus our economic growth on the tech sector and stop being so blind about China being a nice country.
Chris M
We should trade as we should invest, without economic dependence on any individual country, but spread as widely as we can.
There are massive risks in the preponderance of our trade, a) in primary products and b) with one nation, in this case, China. We need to reinstate some industrial development in NZ, even at the partial cost of some of the sacred cows of total free trade.
We need to regain some self-sufficiency. It comes at a cost, but provides work and security.
Purely short-term economic solutions have led us, blindfolded and vulnerable, into an increasingly polarised and dangerous world.
As to leaving the politics to the media, isn’t that exactly what our current politicians do - shape their politics to the next vote for themselves as reported by the media, social or mainstream?
David H
Of course diversification is a strategy any wise business should adopt to de-risk itself.
But the reality is, China has been a life-saver for us economically, while our supposed friends have been really good at locking us out of their markets. The EU and the US are hardly welcoming when it comes to trade.
Neither are rushing to welcome us with a free trade agreement, and thinking India will be a replacement is also a pipe dream. They are even better than the EU and US at restricting access to their market. So yes, Matthew, China did “flatter” us with trade deals.
We should be grateful they did.
Robert H
In reply to Robert H: There’s never any substitute for good planning and we need to plan for scenarios and contingencies. The Government isnt going to do that for us, especially this commercially unaware Cabinet.
I used India as an example - [I] am sure 30 years ago, no one thought India would be a powerhouse.
But I digress - there’s many a country to sell to! As business owners, we need to understand risk versus rewards and so on.
Sudhir M
A lot of uninformed comments.
The key to the PRC’s foreign and economic policies is based on long-term timeframes; timeframes that “the West” fails to fully comprehend. Perhaps those who have to deal with NZ-PRC relations need to read Chinese history and Confucian principles.
Andrew R
Xi Jinping is a master politician. It is in our interest to remain on good terms politically until our democratic values are undermined or threatened.
Economically, we need to grow up and act like adults.
Just because that isn’t the global norm doesn’t mean we shouldn’t.
[We must] live within our means, plan and save for big-ticket items, reduce borrowing and remain work agile.
We must make the Chinese here feel they are at home in this country and build their loyalty to it, despite huge propaganda drives by the CCP in opposition to that.
These are challenging times and there are no easy answers.
But we have friends in many places. The saying ‘NZ punches above its weight but is unfortunately inconsistent’ needs to be a work in progress.
Elsa O
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