Sent: Saturday, October 27, 2001 11:29
AM
Subject: Re: Re: Re: [sharechat] NZSE - A
Dying Exchange (For Steven)
Steven,
I have lived most
of my life in NZ so I am not totally ignorant of the place, nor
unsympathetic. The point I was trying to make is if you want to compare
NZSE to like exchanges you find they have "advantages" NZ cannot
replicate. The ASX is a much more vibrant exchange, for no other reason
than more of the corporate sector is "home grown". Banking and insurance
is a good example of this - in NZ this sector is almost exclusively overseas
dominated.
Parts of this theme are also in the posts re "To understand
Australia's attitude, ask a Mexican". Australian is not as hostile to NZ
as painted here - but the actions listed highlight that NZ is not really
a strategic concern to Australia - and also a harder, mentally tough approach
to pursuing matters of self interest. I think this was evident in the
Anset affair. My experience in Australia, (as a gross generalisation) is
that in business and politics (and in sport?) they play a much harder nosed,
ruthless (mentally tough?)game compared to
NZ.
To take an extreme
example, the USA uses their size, commercial success, military might, and
political stature as self reinforcing elements to pursue all its goals -
despite politicians (sometimes) saying there is no linkage between these -
there always is! That's why, rightly or wrongly some of NZ's defence
views do not enhance its position in Aussie or USA.
In this context I
believe that NZ in general, ..... and NZSE in particular face an very
demanding outlook.
NZ has always
played "above its weight" but in the cold light of day it is pretty much an
irrelevant outpost due to geo-political considerations - this impacts on all
aspects of NZ society.
There is evidence
there is some complacency or lack of awareness about this broader
picture.
Cheers,
PS. I am
trying not to be too controversial! :-)
See IRG research reports
