Maxim Institute, Summarised by The Centrist
New Zealand’s inaugural security strategy acknowledges -rather frankly- China’s growing power as a challenge to established norms.
While China is pivotal to New Zealand’s economy, reliance on it as a primary buyer of exports poses risks, especially given China’s broader economic struggles such as declining fertility rates, workforce reduction, and escalating debt.
New Zealand’s leaders should consider diversifying trade partners to reduce vulnerability. Despite China’s economic downturn being acknowledged in the Reserve Bank, it receives scant attention in the ongoing election-focused discourse.
“This is a big story. There is a real possibility that we are not merely seeing a cyclical recalibration of the Chinese economy but something much worse.”