> Do you think NZ will be better off? I do not know too much
> about NZ other than I hear that it is very difficult to find a
> job in NZ (from the people who go to NZ and then come back
> to Singapore or China)

We're led to believe that there has been an on-going brain drain for
many years, with shortgages now of nurses, doctors, teachers, and
technologists like engineers and chemists. Got plenty of lawyers and
accountants though. Most others that qualified here are said to have
left for overseas positions offering more pay. Now that the squeeze
is on perhaps they'll start coming back

Other examples include importing policemen and casual labourers

One other reason stated for the flight from NZ has been people's
utter dismay at the (many unpopular social) changes made to the
country under 9 years of a Labour government. They were
unceremoniously turfed out last month and now National governs,
led by a new Prime Minister who leans much more towards economics.
This may also encourage growth

NZ banking system is somewhat buffered against the rest of the world
and although things may get a little tight there'll be no disasters

Also, NZ is not a major manufacturer as such. Factories do close,
often because they move off-shore. Some offices here are trimmed
back or closed, business retreating to the Australian office

Export earnings are still largely from agriculture and tourism, both of
which may see a down-turn but not a shut-down

One of the largest employers in the country is the aluminium smelter
in Bluff. It's owned by Rio Tinto, who recently said there will be lay-
offs, so NZ isn't immune. I think it would be a lot of small-scale
redundancies, rather than a house of cards like the US auto industry
for example collapsing

My neighbour and his wife started up a debt management company
earlier this year and they're looking forward to a booming business
after the New Year ;-((  But someone's got to do it

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