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Thread ID: 140091 2015-08-16 12:00:00 The Dairy & Coal Industries not thinking outside the square. mzee (3324) PC World Chat
Post ID Timestamp Content User
1406792 2015-08-21 01:14:00 Yes but you need more exports than your imports, or you cannot afford them!
(And you/we have to borrow and pay interest)

By definition, not all counties can have imports < exports. And actually, economically, your argument doesn't make a load of sense.

Say we import in $10,000 worth of goods. We pay in NZD. What happens to those NZD? 		Nick G (16709)
1406793 2015-08-21 05:26:00 Say we import in $10,000 worth of goods. We pay in NZD. What happens to those NZD?

NZD !! Thought all trade was in US$ ?.

lurking. 		Lurking (218)
1406794 2015-08-21 06:29:00 Say we import in $10,000 worth of goods. We pay in NZD. What happens to those NZD?

NZD !! Thought all trade was in US$ ?.

lurking.


What gave you that idea ? 		Terry Porritt (14)
1406795 2015-08-21 07:33:00 I traded biscuits and a cup of tea for services.

Trade can be anything but in the accounting world, we put it down to our local currency to give it a dollar value to help us understand it.

As for that $10,000, it's now holidaying around the world, switching many hands and hopefully one day it may return back to us by our exporters bringing it back.

Cheers,

KK 		Kame (312)
1406796 2015-08-21 07:49:00 This explains reserve currency. en.wikipedia.org

When I bought metrology equipment and precision tools from Switzerland we paid in Swiss Francs, and in Deutsch Marks (before the Euro) when buying German machine tools.


The US dollar is the worlds largest reserve currency used in international trade, but not the only one. 		Terry Porritt (14)
1406797 2015-08-21 08:13:00 If New Zealand could make product that the rest of the world would beat a path to our door to buy, like Switzerland or Germany, then the NZ dollar would be worth something, maybe even used as an international currency.

As it is, the Reserve Bank and Government are always trying to lower its value to monkey nut status so that we can sell our stuff for peanuts :)

Before the Euro, the German DM was a super strong currency, no talk of lowering its value in order to be able to sell German made goods. 		Terry Porritt (14)
1406798 2015-08-21 11:24:00 Say we import in $10,000 worth of goods. We pay in NZD. What happens to those NZD?

Whoops !, top half of that I copied from, instead of "reply with quote" from Nick G


What gave you that idea ?

Terry, International Standard is US$, used to be GOLD Standard.

lurking. 		Lurking (218)
1406799 2015-08-22 00:21:00 If New Zealand could make product that the rest of the world would beat a path to our door to buy, like Switzerland or Germany, then the NZ dollar would be worth something, maybe even used as an international currency.

As it is, the Reserve Bank and Government are always trying to lower its value to monkey nut status so that we can sell our stuff for peanuts :)

Before the Euro, the German DM was a super strong currency, no talk of lowering its value in order to be able to sell German made goods.

Good idea, but what would you suggest that we make.
And who would make it?

I thought we were doing well with Super yachts etc, but then somehow the bottom fell out of that. 		Digby (677)
1406800 2015-08-22 02:04:00 Good idea, but what would you suggest that we make.
And who would make it?

I thought we were doing well with Super yachts etc, but then somehow the bottom fell out of that.

That's the big question. We do not have much larger scale traditional product except agriculture.

Perhaps software could be the way to go, but the stockmarket darling Xero software accounting, no matter how its customer base seems to grow , is still loss making, how long can that go on for ? 		Terry Porritt (14)
1406801 2015-08-22 02:28:00 We have no real global branded companies. Many large businesses, but generally internal, or related to primary products. Global maybe but too niche. kahawai chaser (3545)
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