----- Original Message -----
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
