MarketLine Blog

Posts tagged to New Zealand

Huawei exerting soft power: International relations strained as Chinese giant seeks overseas expansion

MarketLine

Many governments fear, to varying degrees, the signing of contracts with Huawei will grant intimate access to the government of China – certainly that is the line being pushed by the US government. The New Zealand government gained international attention towards the end of 2018 after the Communications Security Bureau successfully banned mobile phone company Spark from using Huawei equipment in the planned 5G network upgrade. An abrupt cancelling of official Chinese representation at the launch of the much vaunted Year of Chinese Tourism campaign was a rare public statement… Read more

New Zealand: New efforts to curb skyrocketing house prices

MarketLine

New Zealand has the world’s most frenetic property market, with prices in Auckland, New Zealand’s largest city, now outstripping London. In 2017, New Zealand house prices were the most unaffordable in the world and prices in Auckland have risen by 75% over the last four years alone. Home ownership is also low. The share of owner occupied dwellings has fallen from 74% of all private dwellings in 1991 to 63% in 2018. The last five years have also witnessed a rise in homelessness. At the same time, New Zealand has… Read more

New Zealand: Halt to offshore drilling

MarketLine

New Zealand pumped an average of just 31,000 barrels of crude oil a day in 2017, according to data from the US Energy Information Agency (EIA), a fraction of the 913,000 barrels produced daily in the North Sea. The country’s annual oil production makes up just 1.4% of the country’s economy. The industry is already in decline after a downturn in the global market from 2014 took a heavy toll on its earnings. Crude oil production declined in 2016 to the lowest level in a decade, and spending on production… Read more