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Re: Re: Re: [sharechat] NZSE - A Dying Exchange (For Steven)

From: "Nick Kearney" <>
Date: Sun, 28 Oct 2001 20:31:28 +1300

It was Sunderland
---- Original Message -----
Sent: Sunday, October 28, 2001 5:17 PM
Subject: Re: Re: Re: [sharechat] NZSE - A Dying Exchange (For Steven)

I hope you didn't take me too seriously, but I'm sure everyone on the forum is well aware of NZ's economic shortcomings and insignificant place on the world stage.
P.S Nick - if you can't beat Southhampton your in big trouble when you come up and visit us.
----- Original Message -----
Sent: Saturday, October 27, 2001 11:29 AM
Subject: Re: Re: Re: [sharechat] NZSE - A Dying Exchange (For 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.
PS.  I am trying not to be too controversial! :-)


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