----- Original Message -----
Sent: Thursday, October 25, 2001 4:18
PM
Subject: Re: Re: [sharechat] NZSE - A
Dying Exchange
Great comment. I looked up this site http://www.citypopulation.de/ [which
incidentally is excellent] and found there are around 70 cities that have a
population greater than NZ! The country is not geographically strategic
like Singapore, and does not have 'numerous' neighbour nations
like, say, similarly sized Norway. In addition its clear that anything like
free trade in agricultural products is not on the horizon anytime soon.
The strategic options for NZ generally look rather
limited.
[NZSE does not appear to have been that adroit -
on the other hand the hand it has been dealt is weak - many corporates
are overseas entities listed in London or New York because of the historic
lack of domestic capital - and a small domestic base has also been a
constraint in being able to expand into bigger offshore markets. The
fate of the NZSE is to be a (very) local board - probably operating on the ASX
platform or similar.]
The
NZ government also seems incapable of recognising global realties. NZ is
small and a long way away from any other markets. What incentive are
they providing for real value add activities to be domiciled in NZ - rather
than a continued exploitation of local resources and markets [like
Edison takeover of Contact].
See IRG research reports
