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The Peter Zeihan Podcast Series

Economic Troubles for New Zealand || Peter Zeihan

Mar 7, 2025
New Zealand faces tough economic challenges with a surprising 1% contraction and a wave of 80,000 people leaving. The discussion dives into the repercussions of a faltering economy, including higher living costs and tourism impacts from a weak currency. As skilled youth exit, the podcast highlights how global trends are mirrored in New Zealand's struggles, raising concerns about the future of this beloved nation.
10:04

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Quick takeaways

  • New Zealand's economy is experiencing a 1% contraction, intensified by the emigration of 80,000 residents seeking better opportunities abroad.
  • Despite facing economic challenges, New Zealand's agricultural sector thrives due to its efficiency and global competitiveness, particularly in dairy farming.

Deep dives

Economic Challenges in New Zealand

New Zealand is currently facing an economic recession, with a contraction of approximately 1% in the last recorded quarter, a situation that would raise alarms if it occurred in larger economies like the United States. The economy is predominantly service-oriented, yet agriculture and tourism are significant contributors, with tourism seeing heightened demand due to a weakened Kiwi dollar attracting foreign visitors. However, this influx has driven local prices up, particularly in housing, creating a strain on Kiwi residents who experience rising costs while earning less at the same time. Additionally, the migration of around 80,000 Kiwis in a single year, mostly young and skilled individuals heading to better job opportunities abroad, reflects the growing economic pressures felt within the country despite its economic strengths in agriculture and tourism.

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