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Economy

China will keep fuelling NZ

Chief Economist, Greater China, ANZ

2023-07-25 04:30

New Zealand’s economy can rely on Chinese demand for a long time to come, even as the world’s largest economy enters a cyclical slowdown.

On a recent trip to New Zealand, I spoke to a number of customers and representatives about the economic relationship between NZ and China, particularly around exports.

One thing we all agreed on was China's ongoing post-COVID re-opening would continue to provide a lot of opportunity for NZ business.

China is still a big economy. Even as growth moderates, it will inject $US1 trillion US dollar a year into the global economy.

The headline growth rate in the region is expected to come in about 5 per cent this year, growth, but reach 3 per cent over the next few years.

The export-driven New Zealand economy will continue to find a lot of opportunity out of China, especially given the high quality of its produce.

From this perspective, there is a lot of opportunity for the New Zealand economy to benefit from cross-border trade and investment out of China in the future.

Raymond Yeung is Chief Economist, Greater China at ANZ

anzcomau:article-hub/topic/economy,anzcomau:article-hub/geographies/new-zealand,anzcomau:article-hub/geographies/china
China will keep fuelling NZ
Raymond Yeung
Chief Economist, Greater China, ANZ
2023-07-25
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