Latest / Early Edition with Ryan Bridge / Ryan Bridge: Our free trade ideology is under threat

Transcript

Ryan Bridge: Our free trade ideology is under threat · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: You know how, we're a big free trade country. It's
• 0:02
  Speaker 1: our thing. We explored a lot, we earn a lot,
• 0:04
  Speaker 1: we sell, we get richer. And you want open supply chains,
• 0:08
  Speaker 1: you want free movement of goods across borders and through
• 0:11
  Speaker 1: the ocean, et cetera, et cetera. We like it. It's
• 0:13
  Speaker 1: what we want. Well, today Trump and She of China
• 0:16
  Speaker 1: are finally going to sign a deal. Well we hope
• 0:19
  Speaker 1: that they will sign a deal or the framework of
• 0:21
  Speaker 1: a deal to finally bring an end to this trade war.
• 0:24
  Speaker 1: And this should in theory benefit both of them, the region,
• 0:29
  Speaker 1: and then by extension US. This is a good thing.
• 0:32
  Speaker 1: We're also today going to likely see our dairy consumer
• 0:35
  Speaker 1: brands sold off to the French and a deal worth
• 0:38
  Speaker 1: north of four billion dollars, an incredible sum of money. Also,
• 0:43
  Speaker 1: you got to say a good thing. Yesterday Westpac came
• 0:46
  Speaker 1: out with some research which was actually quite interesting. I
• 0:49
  Speaker 1: was going to mention it earlier in the program. They
• 0:51
  Speaker 1: reckon our GDP wasn't actually that bad in the Durne quarter,
• 0:54
  Speaker 1: you know the blip, you know, the horror show. They
• 0:58
  Speaker 1: revised down their estimate of a zero point nine percent
• 1:02
  Speaker 1: backwards read to just zero point one percent backwards. I know,
• 1:07
  Speaker 1: quite the revelation they reckon. It all came down to
• 1:10
  Speaker 1: an accounting glitch to do with the closure of Marsden
• 1:12
  Speaker 1: Point refinery in Northland. This was several years ago. It's
• 1:17
  Speaker 1: an interesting story interest dot co dot is. They go
• 1:19
  Speaker 1: and have a look of it, Go and have a
• 1:20
  Speaker 1: look at it. In all of these stories, though, there
• 1:23
  Speaker 1: are two ideologies playing out. Are we this free trade,
• 1:27
  Speaker 1: open the door, globalist sort of a country, or are
• 1:30
  Speaker 1: we the Winston Peters protections, don't sell your milk brands,
• 1:34
  Speaker 1: keep Marsden Point open for goodness sakes? What kind of
• 1:38
  Speaker 1: country are we? Are we New Zealand first, because the
• 1:42
  Speaker 1: more countries out there who are protecting themselves, the greater
• 1:46
  Speaker 1: the argument comes for us to actually do the same,
• 1:50
  Speaker 1: you know, and we are quite vulnerable those trade routes
• 1:53
  Speaker 1: that I spoke about, those supply chains. When they break down,
• 1:55
  Speaker 1: it's a bit like a computer, great thing or a
• 1:58
  Speaker 1: cell phone, wonderful thing. It's working and once it goes
• 2:02
  Speaker 1: to put you shook it. So what sort of a
• 2:06
  Speaker 1: country are we? We are kind of facing and grappling
• 2:09
  Speaker 1: with that question almost on a weekly basis. At the Moment.
• 2:13
  Speaker 1: For more from Early Edition with Ryan Bridge, Listen live
• 2:16
  Speaker 1: to News Talks at B from five am weekdays, or
• 2:19
  Speaker 1: follow the podcast on iHeartRadio