{"id":6386,"date":"2015-07-09T09:07:44","date_gmt":"2015-07-08T20:07:44","guid":{"rendered":"http:\/\/mananews.co.nz\/wp\/?p=6386"},"modified":"2015-07-09T09:07:44","modified_gmt":"2015-07-08T20:07:44","slug":"chinese-stockmarket-crash-will-affect-new-zealand","status":"publish","type":"post","link":"http:\/\/mananews.co.nz\/wp\/?p=6386","title":{"rendered":"Chinese stockmarket crash will affect New Zealand"},"content":{"rendered":"<p><a href=\"http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2014\/10\/avatr.gif\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-77\" src=\"http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2014\/10\/avatr.gif\" alt=\"avatr\" width=\"70\" height=\"90\" \/><\/a>\u00a0Mana News editor Joe Trinder<\/p>\n<p><a href=\"http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2015\/07\/CINA.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-6387\" src=\"http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2015\/07\/CINA.jpg\" alt=\"CINA\" width=\"600\" height=\"350\" srcset=\"http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2015\/07\/CINA.jpg 600w, http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2015\/07\/CINA-300x175.jpg 300w, http:\/\/mananews.co.nz\/wp\/wp-content\/uploads\/2015\/07\/CINA-570x333.jpg 570w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>The Chinese stock exchange took a 5.9% plunge of approximately $3.5 trillion dollars on Wednesday.\u00a0Foreign traders have sold Chinese shares at a record pace this week over the Chinese government&#8217;s meddling in markets.<\/p>\n<p>The Prime minister John key has been informing the public\u00a0how New Zealand is not immune to the Greek financial crisis, although\u00a0Greece is not even in the top 50 of our trading partners. While News headlines are looking at the wrong economy <em><a href=\"http:\/\/www.stuff.co.nz\/business\/69984809\/new-zealand-businesses-should-prepare-for-repercussions-of-a-greek-debt-default\">&#8220;New Zealand businesses should prepare for repercussions of a Greek debt default&#8221;<\/a><\/em><\/p>\n<p>New Zealand&#8217;s 2nd largest trading partner is China, The New Zealand economy is reliant on China for selling infant\u00a0formula and dairy products.<\/p>\n<p>In terms of economic stability this is bad for New Zealand probably much worse than the\u00a0Global financial crisis in 2009. The GFC \u00a0affected Wall street and the United States is behind China as our third largest trading partner worth $8.2 Billion per annum but China doubles that at $16.1 billion.<\/p>\n<p>The New Zealand dollar is at a 5 year low of 67 cents to the US dollar and commodity prices have dropped. Finance minister Bill English favourite economists Paul Bloxham recently told CNBC\u00a0&#8220;We think New Zealand will be the rock star economy of 2014,&#8221; But failed to acknowledge how the NZ economy is intimately linked to the Chinese economy.<\/p>\n<p>The Chinese stock market crash has just begun and for a third term National government a Chinese stock market crash is\u00a0a nightmare. Fortunately the Finance minister after seven years has claimed a hollow victory by\u00a0delivering his <a href=\"http:\/\/www.stuff.co.nz\/business\/70056835\/budget-roars-back-into-surplus\">first surplus budget.<\/a><\/p>\n<p>If Treasury had not borrowed $80 Billion debt in government debt they could have\u00a0cushioned the blow with Quantitative easing.\u00a0With the Chinese economy in terminal decline rural New Zealand is about to be hit hard but its rural New Zealand that vote blue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Mana News editor Joe Trinder The Chinese stock exchange took a 5.9% plunge of approximately $3.5 trillion dollars on Wednesday.\u00a0Foreign traders have sold Chinese shares at a record pace this week over the Chinese government&#8217;s meddling in markets. The Prime minister John key has been informing the public\u00a0how New Zealand is not immune to the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5,1],"tags":[],"class_list":["post-6386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news","last_archivepost"],"_links":{"self":[{"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/posts\/6386"}],"collection":[{"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6386"}],"version-history":[{"count":36,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/posts\/6386\/revisions"}],"predecessor-version":[{"id":6423,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/posts\/6386\/revisions\/6423"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=\/wp\/v2\/media\/6387"}],"wp:attachment":[{"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6386"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mananews.co.nz\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}