Yesterday New Zealand became the first Western country to reach a free trade agreement with China. From the Telegraph:
The agreement will massively boost New Zealand’s exports to China, already its third-largest trading partner and a fast-growing export market, the prime minister said.
New Zealand’s exports to China’s 1.2bn-strong market include wool, fruit, seafood, lamb and beef – with the latter two markets destined to expand as a burgeoning Chinese middle class is able to afford more meat.
advertisementThat will help the Pacific island economy, which is slowing as record high interest rates cool domestic demand. New Zealand’s farmers are likely to be the biggest beneficiaries of the agreement.
