New Zealand's trading policy in an age of globalisation: GATT, APEC and CER

Abstract

In the last two decades there have been significant changes in New Zealand's international trading relationships, bringing about increased trade and business links with the broad Asia Pacific region. These changes are discussed against the backdrop of evolving international agreements and the world-wide trend towards greater penetration of local markets by production units owned or controlled by producers based overseas. Emphasis is placed upon the growing alliance between the interests of trans-national corporations and government policy. Outcomes of policies championing liberalisation are assessed against the backdrop of 'globalisation' and evolving geopolitical relationships. Growing inter-penetration of Australian and New Zealand markets is highlighted, but so are the many uncertainties in the impacts on New Zealand of economic developments within the rapidly growing economies of Southeast Asia, the future role of the newly-established WTO, and conflicts between forces embracing freer trade and those seeking to impose greater national regulation on trade.