Just in case the affected voters and constituencies haven’t bothered to check how much funding they are being given in Budget 2022 (or how much they have lost in some cases), ministers have been letting them know in post-Budget press statements.
At least, they have been letting them know when the sums have been increased. They tend not to draw attention to budgets that have been cut.
Today we learn that – Continue reading “Buzz from the Beehive – lots of spending, some foreign affairs initiatives and (be nervous, readers) a review of our electoral laws”
Not many New Zealanders may have noticed what is happening in China or India – but their economies appear to be tracking in opposite directions. Those movements could have a powerful impact in turn on NZ’s economic fortunes.
Point of Order is indebted to two remarkable pieces of journalism for insights that give context to these issues. One report appeared in the Guardian Weekly, the other in The Economist.
The first, by Larry Elliott, was headed “Stifled dragon: No-one should take delight in Beijing’s economic woes” and argues a full-blown economic crash would be as damaging to the world as the US sub-prime mortgage crisis was.
The report in The Economist focused on India’s economy which, it said, is likely to be the world’s fastest-growing big economy this year. The details prompted The Economist to editorialise that the Indian economy is being rewired.
“The opportunity is immense— and so are the stakes”.
The question for NZ exporters, who have become dangerously dependent on the Chinese market is whether they should now be exploring prospects on the Indian sub-continent.
Larry Elliott wrote that China has been central to the story of globalisation over the past 30 years, but now it is struggling.
More than two years after Covid19 cases were discovered in Wuhan, the world’s most populous country has yet to get on top of the virus. Continue reading “Why exporters should consider decoupling from China and focus more on opportunities provided by India’s growth”