NZ will never grow! altered by request to ---> NZ's economy is unlikely to grow

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Sep 5th 2011, 8:57 pm

#121

DC10

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Re: NZ will never grow! altered by request to ---> NZ's economy is unlikely to grow

Quote:

Originally Posted by waikatoguy

Never grow? People have been saying that for 50 years. The perception overseas, I think, is that NZ is looking good, hence one of the reasons for the high dollar. We have 2 of the fastest growing economies in our vicinity, and they'll be wanting food and timber. The grass and water aren't going anywhere.

Well it might have been growing - just about - over the past 30 years, but the fact is every other comparable country has been growing faster for most of that time. Whether or not that will continue is open to debate.

Take a look at countries like Portugal, South Korea, Slovenia, Chile - they used to be light years behind but are now about par with NZ.

Sep 5th 2011, 9:48 pm

#122

waikatoguy

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Re: NZ will never grow! altered by request to ---> NZ's economy is unlikely to grow

Quote:

Originally Posted by DC10

Take a look at countries like Portugal, South Korea, Slovenia, Chile - they used to be light years behind but are now about par with NZ.

What measurement are you using for that conclusion? NZ has the 24th highest GDP per capita (nominal) in the world (IMF table) on $US32,145 per person. Slovenia has $23,706. Portugal $21,559. South Korea $20,591. Chile ... wait for it ... $11,828.

By my reckoning, that makes NZ still light years ahead of the countries you mention. As far as South Korea and Slovenia goes we are quite similar in some economic measurements, on further investigation, but certainly well ahead of Chile.

Although by the same token, in the 1950's NZ had one of the highest GDP per capita's in the world. So NZ has definitely slipped since then and it has a fair bit to do if it wants to catch up with the ozzies.

Last edited by waikatoguy; Sep 5th 2011 at 10:35 pm.

Sep 6th 2011, 1:56 am

#123

DC10

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Re: NZ will never grow! altered by request to ---> NZ's economy is unlikely to grow

NZ's figures for the last 2-3 years are flattered by the severely overvalued currency. If you look at the PPP figures my previous comment was nearer the mark.

However you wish to polish it up, to go from 1st (or so) to a ranking in the mid-20s/30s in three decades takes some doing.

Sep 7th 2011, 5:23 pm

#124

whitesand

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Re: NZ will never grow! altered by request to ---> NZ's economy is unlikely to grow

I agree with what you say. When you see many countries they are going forward whereas you get the feeling nothing is changing here for the better. I was away for a few months last year and when I returned I was really not enthusiastic about the place any more. I feel there's a lack of sparkle here, even in spite of the current rugby over-hype!