No-one has yet found an alternative to dairy for New Zealand's export-led economy
The New Zealand economy is export-led. That is the way it has to be for a small mountainous country in the South Pacific, largely bereft of mineral resources and with minimal manufacturing, but blessed with a temperate maritime climate and lots of rain.
Alas, both history and current realities tell us that New Zealand has limited international competitive advantage in relation to technology-based engineering. That statement will be offensive to some, but the hard reality is that we cannot be considered world-leading in relation to chemical, electrical or mechanical engineering beyond small niche areas. Nor are we internationally competitive in relation to manufacture of pharmaceuticals. And when we do develop new technologies, it is not long before the owners typically set up manufacturing closer to the big international markets, using international equity to finance that move.
The painful reality is that pharmaceuticals, computers, televisions, cars, trucks, fuel and even much of our food comes from overseas. That includes rice, bananas, apricots and most bread-making wheat. Open the pantry door and have a look at the small print as to where most of the tinned food comes from. Most of it comes from Australia, China and Thailand. Read more of this post
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