Posted on 03/22/2018 9:08:44 PM PDT by Tolerance Sucks Rocks
No, but now the citizens of NZ get to buy cheap, badly made Chinese toasters.
New Zealand GDP Growth Rate 1987-2018 | Data | Chart | Calendar The New Zealand economy advanced 0.6 percent on quarter in the fourth quarter of 2017, matching the expansion in the previous period but slightly below the 0.7 percent growth expected by consensus. Manufacturing output edged down 0.1 percent after expanding 0.7 percent in Q3. Meantime, construction lost steam in Q4 (0.7 percent vs 3.5 percent). In contrast, utilities rebounded 1.5 percent after plunging 1.9 percent, whereas services grew further (1.1 percent vs 0.6 percent). On an annual basis, GDP expanded 2.9 percent, also below consensus expectations of 3.1 percent growth. GDP Growth Rate in New Zealand averaged 0.64 percent from 1987 until 2017, reaching an all time high of 2.80 percent in the third quarter of 1999 and a record low of -2.40 percent in the first quarter of 1991.
The argument that the laws of economics mysteriously change because the country is bigger is bogus. Water still boils at 212 even with a bigger pot and, once again, tariffs are still taxes , even if the country applying them is bigger.
Tariffs ARE taxes, and more than that are PUNISHMENT for bad behavior. When China starts acting more like New Zealand we can eliminate those tariffs.
And what is the size of New Zealand’s economy? The same as the size of Delaware’s maybe.
Interesting. So when did we ever have free trade with China?
New Zealands trade deficit widened to NZD 566 million in January of 2018 compared to a NZD 227 million gap in the same month of the previous year and expectations of a NZD 2710 million gap. It was the largest deficit for a January month since 2007, with both exports (+9.5 percent year-on-year vs +24.3 percent in December) and imports (+17.1 percent vs +10.8 percent) reaching new highs for January months. Balance of Trade in New Zealand averaged -52.19 NZD Million from 1951 until 2018, reaching an all time high of 1157.64 NZD Million in April of 2011 and a record low of -1387.99 NZD Million in September of 2016.
Small island nation vs a continental power like the USA. No comparison. What a bunch of BS.
If “Free Trade” is such a good idea why does China, EU, Japan and S. Korea all practice protectionism and threaten protectionist tariffs in retaliation all the time?
We don’t even have Free Trade now.
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