GUEST BLOG: Bryan Bruce – Who will own New Zealand Tomorrow?
Britain’s International Trade Secretary Liz Truss held talks with Trade Minister David Parker in the Beehive yesterday on shaping a post -Brexit Trade deal with us.
RNZ this morning reports Ms Truss as saying.
” It’s one of the first free trade deals we expect to strike.”
Why?
In the great scheme of things we are a small economy. What makes us suddenly so important to the UK?
The answer, I suggest, is the CPTPP- the revised 11 member former Trans Pacific Partnership Agreement created when Trump pulled out of it.
Yes I know that Britain’s shores are washed by the Atlantic Ocean and not the Pacific, but Japanese Prime Minister Shinzo Abe has already stated that, post-Brexit, the UK would be welcomed into the agreement “with open arms”.
When it comes down to what Big Money wants to do geography is not important.
So, my guess is that the current British government considers New Zealand an easy prey economy – a pawn in an endgame strategy of gaining access to 10 other,much larger, economies.
And why should we be concerned about that?
Because neoliberal economics has become embedded in these “trade” agreements and because a major export of the UK is what are euphemistically called “financial services” – which is another way of saying money making money out of money.
In 2018, the financial services sector contributed £132 billion to the UK economy roughly 50% of the which was generated out of the City of London and of course Brexit allows them to expand their operations.
A couple of years ago I made a documentary with the title “Who Owns New Zealand Now?”
Given that our Labour led givernment has not given up neoliberalism you will understand why I am eyeing the wheeler -dealers of The City of London and asking the question I think we should all be posing ourselves:
In a post Brexit world… Who could end up owning New Zealand tomorrow?
Bryan Bruce is one of NZs most respected documentary makers and public intellectuals who has tirelessly exposed NZs neoliberal economic settings as the main cause for social issues.
All we need to keep in mind is 1974 when they left us for the EU this does not mean we should not trade but we should always keep this in mind when negotiating
Yes and can anyone tell me who ultimately signed us up to this dismal deal? Amazing too how Trump kept his word on this deal when others did not. Well done Donald.
Radionz item 19/9/2019 (is that a propritious date? (I’d prefer not to acquire chicken entrails which- apparently have been used by those looking for guidance from signs. https://www.rnz.co.nz/news/business/399112/gdp-slows-in-second-quarter
A continued lack of confidence from firms and households, combined with heightened uncertainty offshore, suggests forecast of strengthening growth may struggle to materialise,” Kiwibank chief economist Jarrod Kerr said.
“We expect that the RBNZ will be forced to act by further cutting the OCR (official cash rate) to 0.75 pct in November.”
He said it as also time for the government to step up and spend to stimulate growth.
“What’s needed to snap us out of limbo, is strong, wise, and expansive fiscal policy,” Mr Kerr said.
Financial markets were largely unmoved by the data.
This is your bank speaking NZs! Not the Aussie ones. Note that only TSB is a purely NZ one, or was when I learned that fact a few years ago. Let’s start doing all those things that thinking people have wisely put forward. Time for cost-benefit snappy decision based on the question ‘What have we got to lose?’